Intech Investment Management LLC Buys 34,362 Shares of Globe Life Inc. (NYSE:GL)

Intech Investment Management LLC increased its stake in shares of Globe Life Inc. (NYSE:GL) by 237.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,808 shares of the company’s stock after buying an additional 34,362 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Globe Life worth $4,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GL. NBC Securities Inc. lifted its holdings in shares of Globe Life by 2.7% during the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after acquiring an additional 153 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares during the last quarter. Finally, SRN Advisors LLC raised its holdings in shares of Globe Life by 5.2% during the 1st quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock worth $786,000 after buying an additional 332 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, 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 accessible through this link. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $106.26 on Friday. 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 has a market cap of $9.57 billion, a PE ratio of 10.15 and a beta of 0.81. The firm’s fifty day moving average is $97.02 and its 200-day moving average is $92.35.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping 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 the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $2.61 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side 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. Investors of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s payout ratio is presently 9.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GL. Wells Fargo & Company lifted their target price on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Morgan Stanley increased 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. Truist Financial upped their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Piper Sandler increased their price target on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Five 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 company. According to data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $108.33.

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.