Mutual of America Capital Management LLC raised its position in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,913 shares of the company’s stock after buying an additional 130 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Globe Life were worth $1,903,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Globe Life by 1.6% during the fourth quarter. State Street Corp now owns 4,546,237 shares of the company’s stock valued at $426,073,000 after acquiring an additional 71,366 shares in the last quarter. Boston Partners increased its holdings in shares of Globe Life by 9.9% during the fourth quarter. Boston Partners now owns 2,516,888 shares of the company’s stock valued at $235,926,000 after acquiring an additional 226,388 shares in the last quarter. Cooke & Bieler LP increased its holdings in shares of Globe Life by 56.1% during the fourth quarter. Cooke & Bieler LP now owns 1,756,271 shares of the company’s stock valued at $164,598,000 after acquiring an additional 630,881 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Globe Life by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,728,388 shares of the company’s stock valued at $161,561,000 after acquiring an additional 29,648 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Globe Life by 6.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,548,220 shares of the company’s stock valued at $145,100,000 after acquiring an additional 90,477 shares in the last quarter. Hedge funds and other institutional investors own 75.72% of the company’s stock.
Insider Buying and Selling at Globe Life
In other news, insider Steven John Dichiaro sold 1,000 shares of Globe Life stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $98.84, for a total transaction of $98,840.00. Following the transaction, the insider now directly owns 8,372 shares of the company’s stock, valued at approximately $827,488.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.62% of the company’s stock.
Globe Life Trading Up 1.2 %
Globe Life stock opened at $100.73 on Friday. The business has a 50-day simple moving average of $97.13 and a two-hundred day simple moving average of $99.78. The company has a market cap of $9.93 billion, a P/E ratio of 14.07 and a beta of 0.91. Globe Life Inc. has a 52-week low of $85.25 and a 52-week high of $108.61. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.22.
Globe Life (NYSE:GL – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 8.31% and a net margin of 14.18%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Tuesday, July 5th will be paid a dividend of $0.2075 per share. The ex-dividend date is Friday, July 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.82%. Globe Life’s dividend payout ratio is currently 11.59%.
Analyst Ratings Changes
GL has been the subject of several analyst reports. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $105.00 to $112.00 in a report on Wednesday, June 15th. Morgan Stanley reiterated a “maintains” rating and issued a $109.00 price objective (up from $107.00) on shares of Globe Life in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Finally, Piper Sandler lifted their price objective on Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Globe Life currently has a consensus rating of “Hold” and an average price target of $110.71.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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