Globe Life Inc. (NYSE:GL) Stock Position Lessened by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its holdings in Globe Life Inc. (NYSE:GL) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,050 shares of the company’s stock after selling 342 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Globe Life were worth $858,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in shares of Globe Life by 488.6% in the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after purchasing an additional 27,908 shares in the last quarter. Arizona State Retirement System boosted its stake in Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after buying an additional 1,295 shares in the last quarter. SG Americas Securities LLC boosted its stake in Globe Life by 191.4% during the fourth quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock valued at $3,994,000 after buying an additional 21,552 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Globe Life by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock valued at $4,548,000 after purchasing an additional 397 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after purchasing an additional 67,753 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

GL opened at $55.82 on Tuesday. The firm has a market capitalization of $5.25 billion, a P/E ratio of 5.54 and a beta of 0.69. The stock’s 50 day moving average price is $116.57 and its two-hundred day moving average price is $117.92. 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 $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 EPS. On average, equities analysts forecast 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 issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

Several brokerages have recently commented on GL. Truist Financial reaffirmed a “hold” rating and set a $125.00 target price on shares of Globe Life in a report on Friday. JPMorgan Chase & Co. increased their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods reduced their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Piper Sandler reduced their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Finally, Wells Fargo & Company reduced their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.44.

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.