OLD National Bancorp IN Reduces Holdings in Globe Life Inc. (NYSE:GL)

OLD National Bancorp IN trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,199 shares of the company’s stock after selling 2,020 shares during the period. OLD National Bancorp IN’s holdings in Globe Life were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Lindbrook Capital LLC increased its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Globe Life by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after acquiring an additional 99 shares during the period. Stonegate Investment Group LLC grew its stake in Globe Life by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after acquiring an additional 116 shares during the period. Brown Advisory Inc. grew its stake in Globe Life by 3.0% in the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock worth $449,000 after acquiring an additional 121 shares during the period. Finally, Tectonic Advisors LLC grew its stake in Globe Life by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after acquiring an additional 150 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of NYSE:GL opened at $75.54 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a 50-day simple moving average of $107.65 and a 200 day simple moving average of $115.54. The company has a market cap of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Globe Life Inc. will post 11.68 EPS for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GL shares. Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Truist Financial reduced their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $130.00 to $110.00 in a report on Wednesday. Finally, Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Globe Life 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.