5,200 Shares in Globe Life Inc. (NYSE:GL) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,200 shares of the company’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GL. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 168,127 shares in the last quarter. Invesco Ltd. grew its position in Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after buying an additional 67,753 shares in the last quarter. Equity Investment Corp grew its position in Globe Life by 1.9% during the third 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 in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Globe Life by 141.4% during the third quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after buying an additional 273,515 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.3 %

Shares of NYSE:GL opened at $75.75 on Monday. The firm has a market cap of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The business has a fifty day simple moving average of $106.65 and a 200 day simple moving average of $115.32.

Globe Life (NYSE:GL) last announced its earnings results 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 earnings per share. Analysts predict that Globe Life Inc. will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GL shares. Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Wells Fargo & Company dropped their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Insiders Place Their Bets

In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

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.