Globe Life Inc. (NYSE:GL) Shares Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC lifted its holdings in Globe Life Inc. (NYSE:GL) by 2,042.9% in the second quarter, HoldingsChannel reports. The firm owned 244,980 shares of the company’s stock after buying an additional 233,548 shares during the quarter. Great Lakes Advisors LLC’s holdings in Globe Life were worth $20,157,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GL. Savant Capital LLC increased its position in shares of Globe Life by 951.5% during the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after acquiring an additional 68,061 shares during the period. Arizona State Retirement System increased its stake in shares of Globe Life by 1.7% during the second quarter. Arizona State Retirement System now owns 26,325 shares of the company’s stock worth $2,166,000 after buying an additional 438 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in Globe Life by 25.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 11,029 shares of the company’s stock valued at $907,000 after acquiring an additional 2,265 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after acquiring an additional 552,634 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Globe Life by 20.2% during the 2nd quarter. Natixis Advisors LLC now owns 130,855 shares of the company’s stock worth $10,767,000 after acquiring an additional 22,009 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their target price on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their price objective on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Piper Sandler upped their target price on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Five equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.33.

Globe Life Price Performance

Shares of NYSE:GL traded down $2.04 during trading on Friday, hitting $102.54. 1,173,984 shares of the stock were exchanged, compared to its average volume of 1,767,790. The company has a market cap of $9.23 billion, a PE ratio of 9.79 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $92.69 and a two-hundred day moving average price of $94.14. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 earnings per share. On average, analysts forecast that Globe Life Inc. will post 11.92 EPS for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.94%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

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.