Oakworth Capital Inc. Increases Holdings in Globe Life Inc. (NYSE:GL)

Oakworth Capital Inc. grew its holdings in Globe Life Inc. (NYSE:GL) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,441 shares of the company’s stock after acquiring an additional 303 shares during the period. Oakworth Capital Inc.’s holdings in Globe Life were worth $2,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after buying an additional 1,973,186 shares during the last quarter. Norges Bank bought a new stake in Globe Life during the 4th quarter valued at $112,989,000. Envestnet Asset Management Inc. boosted its position in Globe Life by 1,085.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 834,800 shares of the company’s stock valued at $6,128,000 after acquiring an additional 764,390 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Globe Life by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,397,674 shares of the company’s stock valued at $153,213,000 after purchasing an additional 677,778 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Globe Life by 36.3% during the 1st quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after purchasing an additional 508,064 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial restated a “hold” rating and issued a $125.00 target price on shares of Globe Life in a research note on Friday, April 12th. Wells Fargo & Company cut their price target on Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com raised Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods cut their price target on Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Price Performance

Shares of NYSE:GL traded up $3.74 during midday trading on Wednesday, hitting $63.71. The company had a trading volume of 4,024,757 shares, compared to its average volume of 1,786,804. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 5.95 and a beta of 0.69. The business’s 50-day simple moving average is $115.35 and its 200-day simple moving average is $117.58.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. On average, research analysts predict that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.51%. Globe Life’s dividend payout ratio (DPR) is 9.52%.

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.