Vanguard Group Inc. Sells 52,677 Shares of Globe Life Inc. (NYSE:GL)

Vanguard Group Inc. lessened its position in shares of Globe Life Inc. (NYSE:GL) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,829,098 shares of the company’s stock after selling 52,677 shares during the quarter. Vanguard Group Inc. owned about 11.56% of Globe Life worth $1,318,118,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Retirement Systems of Alabama bought a new position in shares of Globe Life during the 4th quarter worth approximately $2,297,000. Quadrature Capital Ltd increased its stake in Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after purchasing an additional 15,862 shares in the last quarter. Pacer Advisors Inc. increased its stake in Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after purchasing an additional 27,908 shares in the last quarter. Arizona State Retirement System increased its stake in Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after purchasing an additional 1,295 shares in the last quarter. Finally, AIA Group Ltd acquired a new position in Globe Life during the 4th quarter valued at approximately $1,788,000. Institutional investors own 81.61% of the company’s stock.

Insider Activity

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Robert Edward Hensley acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the transaction, the executive vice president now owns 7,290 shares in the company, valued at $599,019.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction 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. Insiders acquired 6,500 shares of company stock worth $536,860 over the last three months. Insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GL shares. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Evercore ISI lowered their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Performance

GL opened at $80.40 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 7.68 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The firm’s fifty day simple moving average is $78.98 and its two-hundred day simple moving average is $106.48.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $2.53 earnings per share. Equities analysts anticipate that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

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.