Headlands Technologies LLC Makes New $60,000 Investment in Globe Life Inc. (NYSE:GL)

Headlands Technologies LLC bought a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 491 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds also recently made changes to their positions in GL. Vanguard Group Inc. grew its holdings in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares during the period. JPMorgan Chase & Co. increased its position in Globe Life by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after buying an additional 168,127 shares in the last quarter. Cooke & Bieler LP raised its stake in Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after buying an additional 45,227 shares during the last quarter. Invesco Ltd. boosted its holdings in Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after acquiring an additional 67,753 shares in the last quarter. Finally, Equity Investment Corp boosted its holdings in Globe Life by 1.9% in the third quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock worth $79,118,000 after acquiring an additional 13,876 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Activity at Globe Life

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GL shares. JPMorgan Chase & Co. raised their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company decreased their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Evercore ISI decreased their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Price Performance

NYSE GL opened at $79.48 on Thursday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 7.59 and a beta of 0.69. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The business’s fifty day moving average price is $104.71 and its 200-day moving average price is $114.81.

Globe Life (NYSE:GL) last posted its earnings results 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). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. On average, equities analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.21%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

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.