Globe Life Inc. (NYSE:GL) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its position in Globe Life Inc. (NYSE:GL) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,170 shares of the company’s stock after selling 872 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Globe Life were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in Globe Life in the first quarter valued at $49,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC grew its stake in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after buying an additional 557 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Globe Life in the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. increased its stake in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after purchasing an additional 554 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.6 %

GL stock opened at $104.16 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market capitalization of $9.38 billion, a PE ratio of 9.95 and a beta of 0.81. The company’s 50 day simple moving average is $100.98 and its 200-day simple moving average is $90.95.

Globe Life (NYSE:GL) last announced its 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 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 quarter in the prior year, the firm earned $2.61 EPS. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their price target on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price target on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.67.

Insider Buying and Selling at Globe Life

In other news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.51% of the stock is owned by insiders.

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.