Retirement Systems of Alabama Purchases Shares of 18,875 Globe Life Inc. (NYSE:GL)

Retirement Systems of Alabama acquired a new stake in shares of Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,875 shares of the company’s stock, valued at approximately $2,297,000.

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

Analysts Set New Price Targets

GL has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target 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. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Truist Financial decreased their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Piper Sandler dropped 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. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.33.

Insiders Place Their Bets

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

Globe Life Stock Up 5.1 %

Shares of NYSE:GL opened at $89.49 on Thursday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $99.26 and a two-hundred day moving average of $113.46. The stock has a market cap of $8.42 billion, a P/E ratio of 8.55 and a beta of 0.78.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. On average, research analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.24 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a yield of 1.07%. Globe Life’s payout ratio is 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.