Globe Life Inc. (NYSE:GL) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,607 shares of the company’s stock after selling 371 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Globe Life were worth $1,778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Globe Life in the 4th quarter valued at about $28,000. Lindbrook Capital LLC boosted its holdings in Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in Globe Life in the 3rd quarter valued at about $61,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Globe Life in the 4th quarter valued at about $63,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company decreased their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI decreased their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $130.00 to $110.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Price Performance

Shares of GL opened at $78.60 on Thursday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s 50 day moving average price is $108.65 and its 200 day moving average price is $115.82. The company has a market cap of $7.39 billion, a P/E ratio of 7.51 and a beta of 0.69. 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 (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $2.53 earnings per share. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

About Globe Life

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.