Cooke & Bieler LP Increases Holdings in Globe Life Inc. (NYSE:GL)

Cooke & Bieler LP boosted its holdings in Globe Life Inc. (NYSE:GL) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,357,839 shares of the company’s stock after acquiring an additional 45,227 shares during the quarter. Globe Life accounts for about 2.5% of Cooke & Bieler LP’s investment portfolio, making the stock its 5th largest position. Cooke & Bieler LP owned 2.51% of Globe Life worth $286,996,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GL. Private Trust Co. NA increased its stake in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Globe Life in the 4th quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in shares of Globe Life in the 1st quarter worth about $29,000. AM Squared Ltd purchased a new position in shares of Globe Life in the 1st quarter worth about $44,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Globe Life in the 3rd quarter worth about $61,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Up 2.7 %

Shares of GL stock opened at $66.74 on Friday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50-day moving average of $111.78 and a 200 day moving average of $116.60. The stock has a market capitalization of $6.28 billion, a PE ratio of 6.62 and a beta of 0.69.

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

Globe Life Increases Dividend

The firm also recently disclosed 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 is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.44%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

GL has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Truist Financial reiterated a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a report on Friday, April 12th. Piper Sandler cut their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods dropped their target price on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $126.44.

Globe Life 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.