OLD National Bancorp IN Decreases Position in Globe Life Inc. (NYSE:GL)

OLD National Bancorp IN lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 47.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,199 shares of the company’s stock after selling 2,020 shares during the period. OLD National Bancorp IN’s holdings in Globe Life were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after purchasing an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after acquiring an additional 168,127 shares during the last quarter. Cooke & Bieler LP raised its stake in Globe Life by 2.0% in the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after acquiring an additional 45,227 shares during the last quarter. Invesco Ltd. raised its stake in Globe Life by 3.7% in the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after acquiring an additional 67,753 shares during the last quarter. Finally, Equity Investment Corp raised its stake in Globe Life by 1.9% in the 3rd quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock worth $79,118,000 after acquiring an additional 13,876 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $75.54 on Friday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The stock has a 50 day moving average of $107.65 and a two-hundred day moving average of $115.54. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.10 billion, a P/E ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $2.53 earnings per share. On average, analysts expect that Globe Life Inc. will post 11.68 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Upgrades and Downgrades

GL has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $130.00 to $110.00 in a research note on Wednesday. Truist Financial reduced their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

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.