Boston Partners Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

Boston Partners lowered its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,967,069 shares of the company's stock after selling 421,070 shares during the period. Boston Partners owned 2.09% of Globe Life worth $239,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA grew its position in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company's stock valued at $27,000 after purchasing an additional 162 shares during the period. BKM Wealth Management LLC purchased a new stake in Globe Life during the fourth quarter valued at about $28,000. Lindbrook Capital LLC grew its position in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock valued at $29,000 after acquiring an additional 92 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company's stock valued at $34,000 after acquiring an additional 177 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Globe Life during the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GL shares. Keefe, Bruyette & Woods raised Globe Life from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. StockNews.com downgraded Globe Life from a "buy" rating to a "hold" rating in a research report on Saturday, April 20th. Piper Sandler lowered their price target on Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an "overweight" rating for the company in a research report on Wednesday, April 24th. Finally, Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an "in-line" rating for the company in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.33.

Insiders Place Their Bets

In other news, Director David A. Rodriguez bought 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David A. Rodriguez bought 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Down 1.6 %

Shares of GL stock traded down $1.36 during trading hours on Monday, reaching $85.14. The company had a trading volume of 1,629,877 shares, compared to its average volume of 2,218,978. The company has a market capitalization of $7.86 billion, a P/E ratio of 8.13 and a beta of 0.78. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. The stock's fifty day simple moving average is $97.67 and its 200 day simple moving average is $113.12.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 EPS. As a group, sell-side analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life's dividend payout ratio is currently 9.17%.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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