Baird Financial Group Inc. Grows Stake in Globe Life Inc. (NYSE:GL)

Baird Financial Group Inc. boosted its position in Globe Life Inc. (NYSE:GL) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,220 shares of the company’s stock after purchasing an additional 919 shares during the period. Baird Financial Group Inc.’s holdings in Globe Life were worth $471,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GL. Albion Financial Group UT purchased a new position in Globe Life during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares in the last quarter. Avalon Trust Co purchased a new position in Globe Life during the fourth quarter worth $41,000. Finally, Platinum Investment Management Ltd. purchased a new position in Globe Life during the fourth quarter worth $45,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of Globe Life stock opened at $120.73 on Friday. Globe Life Inc. has a twelve month low of $76.55 and a twelve month high of $133.76. The stock has a market capitalization of $9.97 billion, a P/E ratio of 10.10 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $123.26 and its 200 day moving average price is $117.47.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business posted $2.78 EPS. Globe Life’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GL shares. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Morgan Stanley decreased their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

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.