Xponance Inc. Decreases Holdings in Globe Life Inc. (NYSE:GL)

Xponance Inc. trimmed its stake in Globe Life Inc. (NYSE:GL) by 35.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,753 shares of the company’s stock after selling 4,291 shares during the quarter. Xponance Inc.’s holdings in Globe Life were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GL. Vanguard Group Inc. increased its holdings in Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of Globe Life by 69.2% in the fourth 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 during the period. Savant Capital LLC lifted its stake in shares of Globe Life by 951.5% during the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after buying an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after buying an additional 17,878 shares during the period. 81.61% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mary E. Thigpen acquired 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Performance

NYSE GL opened at $104.40 on Monday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a fifty day moving average of $98.97 and a 200-day moving average of $91.53. The company has a market capitalization of $9.40 billion, a P/E ratio of 9.97 and a beta of 0.81. 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 (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS. As a group, equities research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life’s payout ratio is 9.17%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GL shares. Truist Financial boosted their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Piper Sandler increased their price objective on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Morgan Stanley increased their price target on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.33.

Globe Life 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.