DekaBank Deutsche Girozentrale Reduces Stock Position in Globe Life Inc. (NYSE:GL)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Globe Life Inc. (NYSE:GL) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,395 shares of the company’s stock after selling 33,738 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.13% of Globe Life worth $9,644,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Keener Financial Planning LLC purchased a new stake in shares of Globe Life during the 1st quarter valued at approximately $49,000. LRI Investments LLC lifted its stake in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares in the last quarter. Principal Securities Inc. purchased a new stake in Globe Life in the 4th quarter worth approximately $52,000. Family Firm Inc. purchased a new stake in Globe Life in the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. lifted its stake in Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several recent analyst reports. Piper Sandler increased their target price on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley increased their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial increased their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Finally, Evercore ISI increased their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Five 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 stock. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Price Performance

GL stock opened at $106.20 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The firm’s fifty day moving average is $95.22 and its 200 day moving average is $92.66. The firm has a market cap of $9.56 billion, a P/E ratio of 10.14 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.61 EPS. Research analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Globe Life’s dividend payout ratio is 9.17%.

About Globe Life

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.