Acadian Asset Management LLC Raises Position in Globe Life Inc. (NYSE:GL)

Acadian Asset Management LLC grew its position in shares of Globe Life Inc. (NYSE:GL) by 132.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,204 shares of the company’s stock after acquiring an additional 1,257 shares during the period. Acadian Asset Management LLC’s holdings in Globe Life were worth $180,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Keener Financial Planning LLC bought a new position in shares of Globe Life in the 1st quarter worth about $49,000. Principal Securities Inc. bought a new position in shares of Globe Life during the fourth quarter valued at approximately $52,000. LRI Investments LLC purchased a new position in shares of Globe Life during the first quarter valued at approximately $72,000. Family Firm Inc. bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $54,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Globe Life in the 1st quarter worth approximately $82,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 0.9 %

Shares of Globe Life stock opened at $106.26 on Friday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $96.61 and its 200 day moving average is $92.72. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 10.15 and a beta of 0.81.

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

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 yield of 0.90%. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GL. Jefferies Financial Group lifted their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Evercore ISI upped their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company raised their price target 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus 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.