Globe Life Inc. (NYSE:GL) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in Globe Life Inc. (NYSE:GL) by 88.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,933 shares of the company’s stock after selling 21,658 shares during the period. Mackenzie Financial Corp’s holdings in Globe Life were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after buying an additional 859,146 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Globe Life by 50.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 5,070 shares of the company’s stock valued at $417,000 after buying an additional 1,707 shares during the period. AQR Capital Management LLC boosted its stake in shares of Globe Life by 60.7% in the second quarter. AQR Capital Management LLC now owns 450,352 shares of the company’s stock worth $37,055,000 after buying an additional 170,143 shares during the last quarter. Finally, AXA S.A. acquired a new stake in Globe Life during the second quarter worth about $4,047,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Down 2.8 %

Shares of GL stock opened at $103.49 on Tuesday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a 50 day moving average price of $100.79 and a 200 day moving average price of $91.03. The stock has a market capitalization of $9.32 billion, a P/E ratio of 9.88 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 results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Equities research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In other news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GL shares. Evercore ISI boosted their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Jefferies Financial Group raised their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Truist Financial upped their target price on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Five research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

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.