Asset Management One Co. Ltd. Sells 389 Shares of Globe Life Inc. (NYSE:GL)

Asset Management One Co. Ltd. decreased its position in shares of Globe Life Inc. (NYSE:GL) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,915 shares of the company’s stock after selling 389 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Globe Life were worth $4,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after acquiring an additional 99 shares during the last quarter. Ascent Group LLC boosted its stake in Globe Life by 3.2% during the 4th quarter. Ascent Group LLC now owns 3,426 shares of the company’s stock worth $413,000 after acquiring an additional 105 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Globe Life by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,725 shares of the company’s stock worth $299,000 after acquiring an additional 106 shares during the last quarter. Stonegate Investment Group LLC lifted its stake in Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after buying an additional 116 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after buying an additional 121 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GL shares. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Evercore ISI cut their price target on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating on the stock in a research note on Thursday, March 14th. Truist Financial lifted their price target on shares of Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Piper Sandler cut their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.56.

Globe Life Price Performance

NYSE GL opened at $104.93 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 12-month low of $102.23 and a 12-month high of $132.00. The company has a market capitalization of $9.87 billion, a PE ratio of 10.41 and a beta of 0.69. The firm’s 50 day moving average is $120.52 and its 200-day moving average is $119.03.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.24 earnings per share. Equities research analysts anticipate that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is presently 9.52%.

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.