Globe Life Inc. (NYSE:GL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Globe Life Inc. (NYSE:GL) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,166 shares of the company’s stock after selling 1,586 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Globe Life were worth $4,767,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GL. JPMorgan Chase & Co. increased its stake in Globe Life by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Globe Life by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock valued at $1,464,000 after buying an additional 538 shares during the period. American Century Companies Inc. increased its stake in Globe Life by 26.8% during the 1st quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock valued at $1,354,000 after buying an additional 2,848 shares during the period. Cetera Advisor Networks LLC increased its stake in Globe Life by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after buying an additional 137 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Globe Life by 23.9% during the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after buying an additional 4,897 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GL shares. Wells Fargo & Company lowered their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a research note on Friday, April 12th. Finally, Piper Sandler lowered their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.44.

Globe Life Stock Performance

Shares of GL opened at $66.74 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a 50-day moving average of $111.78 and a two-hundred day moving average of $116.54. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 6.62 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

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

Globe Life Increases Dividend

The company 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. This represents a $0.96 annualized dividend and a dividend yield of 1.44%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) 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.