Pacer Advisors Inc. Sells 21,221 Shares of Globe Life Inc. (NYSE:GL)

Pacer Advisors Inc. cut its stake in shares of Globe Life Inc. (NYSE:GL) by 77.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,210 shares of the company’s stock after selling 21,221 shares during the quarter. Pacer Advisors Inc.’s holdings in Globe Life were worth $511,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Globe Life by 10,526.9% in the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after acquiring an additional 989,319 shares during the period. Bank of New York Mellon Corp increased its position in Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares during the period. Pzena Investment Management LLC raised its holdings in Globe Life by 146.3% during the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after purchasing an additional 552,634 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $1,309,755,000 after purchasing an additional 425,993 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of Globe Life by 2,042.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 244,980 shares of the company’s stock valued at $20,157,000 after purchasing an additional 233,548 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Truist Financial upped their target price on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on 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 increased their price target on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. 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 Trading Down 4.7 %

Shares of Globe Life stock opened at $104.40 on Friday. The stock has a market capitalization of $9.38 billion, a PE ratio of 9.97 and a beta of 0.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a 50 day moving average price of $98.97 and a two-hundred day moving average price of $91.72. 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 announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business posted $2.61 EPS. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.92%. Globe Life’s 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.