Pensionfund Sabic Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Pensionfund Sabic lessened its holdings in Globe Life Inc. (NYSE:GL) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the company’s stock after selling 500 shares during the quarter. Pensionfund Sabic’s holdings in Globe Life were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GL. Nordea Investment Management AB raised its position in shares of Globe Life by 10,526.9% during the 1st 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 in the last quarter. D. E. Shaw & Co. Inc. lifted its position 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 worth $88,420,000 after buying an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Globe Life by 104.3% in 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 buying an additional 822,638 shares in the last quarter. Millennium Management LLC grew its position in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after buying an additional 552,634 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of the 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 trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.51% of the stock is owned by company insiders.

Globe Life Price Performance

Globe Life stock opened at $106.43 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $101.54 and its 200 day simple moving average is $91.17. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a market capitalization of $9.56 billion, a PE ratio of 9.62 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business earned $2.61 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s payout ratio is 8.68%.

Analyst Ratings Changes

Several research firms have issued reports on GL. Morgan Stanley upped their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. TD Cowen assumed coverage on Globe Life in a research note on Wednesday. They issued a “buy” rating and a $150.00 price objective for the company. Truist Financial raised their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company upped their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $114.60.

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.