M&T Bank Corp Trims Position in Globe Life Inc. (NYSE:GL)

M&T Bank Corp decreased its holdings in shares of Globe Life Inc. (NYSE:GLFree Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,087 shares of the company’s stock after selling 967 shares during the period. M&T Bank Corp’s holdings in Globe Life were worth $985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GL. Vanguard Group Inc. raised its stake in shares of Globe Life by 1.7% during 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 last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 168,127 shares during the period. Cooke & Bieler LP raised its holdings in Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after purchasing an additional 45,227 shares in the last quarter. Invesco Ltd. lifted its position in 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 purchasing an additional 67,753 shares during the period. Finally, Equity Investment Corp boosted its holdings in Globe Life by 1.9% in the 3rd quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock valued at $79,118,000 after purchasing an additional 13,876 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GL shares. Truist Financial reduced their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. 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. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Check Out Our Latest Research Report on Globe Life

Insiders Place Their Bets

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the business’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 value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of the stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated 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 owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Performance

Shares of GL opened at $86.50 on Friday. The company has a 50-day moving average of $97.67 and a two-hundred day moving average of $113.12. The stock has a market cap of $7.98 billion, a P/E ratio of 8.26 and a beta of 0.78. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GLGet Free Report) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company 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%. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.53 EPS. As a group, research analysts predict that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.11%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Globe Life Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GLFree Report).

Institutional Ownership by Quarter for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.