Sumitomo Mitsui Trust Holdings Inc. Buys 15,329 Shares of Globe Life Inc. (NYSE:GL)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Globe Life Inc. (NYSE:GL) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,580 shares of the company’s stock after buying an additional 15,329 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Globe Life worth $31,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in Globe Life during the 4th quarter valued at approximately $633,000. Cerity Partners LLC bought a new stake in Globe Life during the 4th quarter valued at approximately $244,000. GHP Investment Advisors Inc. increased its stake in Globe Life by 3.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 26,600 shares of the company’s stock worth $3,238,000 after acquiring an additional 957 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Globe Life by 72.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock worth $443,000 after acquiring an additional 1,526 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Globe Life by 1.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock worth $4,548,000 after acquiring an additional 397 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 2.7 %

Globe Life stock opened at $66.74 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The business’s 50-day simple moving average is $111.78 and its two-hundred day simple moving average is $116.60. The company has a market cap of $6.28 billion, a PE ratio of 6.62 and a beta of 0.69. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

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

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.44%. Globe Life’s dividend payout ratio is presently 9.52%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted 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. Truist Financial restated a “hold” rating and set a $125.00 price objective on shares of Globe Life in a report on Friday, April 12th. Keefe, Bruyette & Woods lowered 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. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company reduced their price target on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.