Globe Life Inc. (NYSE:GL) Shares Sold by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 32.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,970 shares of the company’s stock after selling 133,866 shares during the period. Pensioenfonds Rail & OV owned about 0.30% of Globe Life worth $32,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Retirement Systems of Alabama purchased a new position in shares of Globe Life in the fourth quarter valued at approximately $2,297,000. Quadrature Capital Ltd grew its stake in Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after acquiring an additional 15,862 shares in the last quarter. Pacer Advisors Inc. grew its stake in Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after acquiring an additional 27,908 shares in the last quarter. Arizona State Retirement System grew its stake in Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after acquiring an additional 1,295 shares in the last quarter. Finally, AIA Group Ltd purchased a new stake in Globe Life during the 4th quarter valued at about $1,788,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

GL traded down $0.30 during midday trading on Wednesday, reaching $83.21. 674,971 shares of the company’s stock were exchanged, compared to its average volume of 2,114,535. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $7.68 billion, a PE ratio of 7.85 and a beta of 0.81. The business’s 50-day moving average price is $80.67 and its 200 day moving average price is $105.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $2.53 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a yield of 1.15%. Globe Life’s dividend payout ratio is currently 9.17%.

Insiders Place Their Bets

In other Globe Life news, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the transaction, the executive vice president now owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders purchased a total of 6,500 shares of company stock worth $536,860 in the last 90 days. 1.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Evercore ISI increased their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five research 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. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $115.56.

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.