Globe Life Inc. (NYSE:GL) Position Reduced by PGGM Investments

PGGM Investments decreased its holdings in Globe Life Inc. (NYSE:GL) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,141 shares of the company’s stock after selling 4,036 shares during the period. PGGM Investments’ holdings in Globe Life were worth $6,417,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Lindbrook Capital LLC increased its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. NBC Securities Inc. increased its holdings in Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the last quarter. Private Trust Co. NA increased its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after buying an additional 167 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE GL traded down $2.04 during midday trading on Friday, reaching $90.91. 937,317 shares of the company traded hands, compared to its average volume of 915,633. The firm has a market cap of $8.19 billion, a PE ratio of 8.68 and a beta of 0.80. The stock’s 50-day simple moving average is $84.51 and its 200-day simple moving average is $98.46. Globe Life Inc. has a 12 month low of $38.95 and a 12 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.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $2.61 earnings per share. As a group, equities analysts anticipate that Globe Life Inc. will post 11.92 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.06%. Globe Life’s payout ratio is presently 9.17%.

Insider Activity

In other Globe Life news, CEO James Matthew Darden bought 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the purchase, the chief executive officer now owns 37,973 shares in the company, valued at approximately $3,220,869.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mary E. Thigpen acquired 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Matthew Darden acquired 2,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the completion of the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,000 shares of company stock worth $687,880. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on GL. Truist Financial increased their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price target on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research report on Wednesday. Evercore ISI increased their price objective on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group increased their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five research 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, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

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.