Dimensional Fund Advisors LP Grows Stock Position in Globe Life Inc. $GL

Dimensional Fund Advisors LP boosted its holdings in Globe Life Inc. (NYSE:GL) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,353,192 shares of the company’s stock after acquiring an additional 217,331 shares during the period. Dimensional Fund Advisors LP owned 3.00% of Globe Life worth $327,479,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Globe Life by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after acquiring an additional 86,349 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Globe Life by 2.7% in the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock valued at $552,262,000 after purchasing an additional 102,445 shares during the last quarter. Morgan Stanley lifted its stake in shares of Globe Life by 7.2% in the 4th quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock valued at $260,176,000 after purchasing an additional 125,567 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Globe Life by 32.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock worth $200,734,000 after purchasing an additional 355,399 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Globe Life by 98.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after purchasing an additional 696,548 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Up 0.1%

Shares of NYSE GL opened at $184.38 on Wednesday. Globe Life Inc. has a twelve month low of $120.05 and a twelve month high of $191.55. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $167.76 and a 200-day simple moving average of $152.23. The stock has a market capitalization of $14.32 billion, a PE ratio of 12.75 and a beta of 0.47.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $3.07 EPS. Globe Life’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Globe Life Inc. will post 15.64 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. Globe Life’s dividend payout ratio (DPR) is presently 9.13%.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the completion of the transaction, the chief executive officer owned 54,020 shares of the company’s stock, valued at $8,463,853.60. This trade represents a 27.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the completion of the transaction, the chief financial officer owned 45,335 shares of the company’s stock, valued at approximately $6,965,722.75. This trade represents a 25.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 124,187 shares of company stock valued at $19,529,414. 2.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Cowen raised their price objective on Globe Life from $199.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group increased their target price on shares of Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company increased their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $180.00 to $192.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.60.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.