Dimensional Fund Advisors LP Sells 59,650 Shares of Globe Life Inc. (NYSE:GL)

Dimensional Fund Advisors LP trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,235,906 shares of the company’s stock after selling 59,650 shares during the period. Dimensional Fund Advisors LP owned 1.37% of Globe Life worth $101,691,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GL. Vanguard Group Inc. raised its position in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after acquiring an additional 425,993 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 valued at $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Globe Life by 69.2% in the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after purchasing an additional 15,862 shares during the period. Savant Capital LLC boosted its position in shares of Globe Life by 951.5% during the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after purchasing an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in shares of Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after buying an additional 17,878 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the purchase, the director now owns 15,605 shares in the company, valued at $1,407,571. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Price Performance

Shares of NYSE GL opened at $108.12 on Wednesday. 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 business’s 50 day moving average price is $97.83 and its two-hundred day moving average price is $91.85. The company has a market cap of $9.74 billion, a PE ratio of 10.33 and a beta of 0.81. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

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

Globe Life Dividend Announcement

The business also recently disclosed 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. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. 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

Several brokerages recently commented on GL. Jefferies Financial Group raised their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Wells Fargo & Company increased their price objective on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial lifted their price objective 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Finally, Piper Sandler lifted their target price on Globe Life from $105.00 to $106.00 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.