Globe Life Inc. $GL Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Globe Life Inc. (NYSE:GL) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 558,911 shares of the company’s stock after selling 10,905 shares during the period. Bank of New York Mellon Corp’s holdings in Globe Life were worth $77,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Compound Planning Inc. grew its position in Globe Life by 4.3% during the fourth quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock valued at $275,000 after purchasing an additional 82 shares in the last quarter. Root Financial Partners LLC increased its stake in Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 83 shares during the period. Transcend Capital Advisors LLC lifted its position in Globe Life by 3.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company’s stock worth $317,000 after buying an additional 84 shares in the last quarter. Natural Investments LLC lifted its position in Globe Life by 2.6% in the 4th quarter. Natural Investments LLC now owns 3,452 shares of the company’s stock worth $482,000 after buying an additional 87 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Globe Life by 5.6% during the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock valued at $231,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Up 0.1%

Shares of NYSE:GL opened at $184.38 on Wednesday. The company has a market cap of $14.32 billion, a P/E ratio of 12.75 and a beta of 0.47. The stock’s 50-day moving average is $167.76 and its 200-day moving average is $152.23. Globe Life Inc. has a 52-week low of $120.05 and a 52-week high of $191.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07.

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

Globe Life Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GL shares. Morgan Stanley upped their price target on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. TD Cowen lifted their price objective on Globe Life from $199.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Truist Financial boosted their target price on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods upped their target price on Globe Life from $180.00 to $192.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group raised their price target on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.60.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 4,663 shares of Globe Life stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the transaction, the chief executive officer owned 58,451 shares in the company, valued at approximately $8,994,439.88. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the transaction, the chief executive officer owned 54,020 shares in the company, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 124,187 shares of company stock worth $19,529,414. 2.11% of the stock is currently owned by company insiders.

Globe Life Profile

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.