Prudential PLC Raises Stock Holdings in Globe Life Inc. (NYSE:GL)

Prudential PLC grew its stake in Globe Life Inc. (NYSE:GL) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,284 shares of the company’s stock after acquiring an additional 1,347 shares during the quarter. Prudential PLC’s holdings in Globe Life were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. BlackRock Inc. increased its stake in Globe Life by 0.9% during the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock worth $655,963,000 after acquiring an additional 57,587 shares during the last quarter. FMR LLC grew its stake in shares of Globe Life by 6.3% in the first quarter. FMR LLC now owns 2,689,921 shares of the company’s stock valued at $295,945,000 after buying an additional 160,145 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Globe Life by 112.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,265,399 shares of the company’s stock valued at $273,093,000 after buying an additional 1,199,227 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Globe Life by 36.3% in the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after buying an additional 508,064 shares in the last quarter. 80.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, Director Cheryl Alston sold 16,691 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $108.81, for a total transaction of $1,816,147.71. Following the sale, the director now directly owns 6,238 shares in the company, valued at approximately $678,756.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Cheryl Alston sold 16,691 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $108.81, for a total transaction of $1,816,147.71. Following the sale, the director now directly owns 6,238 shares in the company, valued at approximately $678,756.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Brian Mitchell sold 16,217 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $111.97, for a total value of $1,815,817.49. Following the sale, the executive vice president now owns 36,635 shares in the company, valued at $4,102,020.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,733 shares of company stock worth $5,310,990. 4.33% of the stock is currently owned by company insiders.

Globe Life Trading Down 0.1 %

NYSE:GL opened at $111.45 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $111.99 and its two-hundred day moving average is $110.64. Globe Life Inc. has a 52 week low of $96.41 and a 52 week high of $123.85. The company has a market cap of $10.56 billion, a PE ratio of 13.02 and a beta of 0.79.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 26th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.04. Globe Life had a return on equity of 21.82% and a net margin of 15.91%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $2.07 EPS. Globe Life’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Globe Life Inc. will post 10.48 EPS for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Wednesday, July 5th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Monday, July 3rd. Globe Life’s payout ratio is 10.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler increased their target price on Globe Life from $130.00 to $131.00 in a research note on Friday, July 28th. Morgan Stanley raised Globe Life from an “underweight” rating to an “equal weight” rating and set a $131.00 price target for the company in a report on Friday, August 18th. Finally, StockNews.com assumed coverage on Globe Life in a report on Thursday, August 17th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, three 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.14.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.