Great Lakes Advisors LLC Buys 9,840 Shares of Globe Life Inc. (NYSE:GL)

Great Lakes Advisors LLC grew its stake in shares of Globe Life Inc. (NYSE:GL) by 500.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,807 shares of the company’s stock after buying an additional 9,840 shares during the period. Great Lakes Advisors LLC’s holdings in Globe Life were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after acquiring an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after buying an additional 168,127 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Globe Life by 2.0% during the fourth 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 in the last quarter. Invesco Ltd. lifted its position in Globe Life by 3.7% in the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after acquiring an additional 67,753 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Globe Life by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after acquiring an additional 29,560 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

Shares of GL opened at $83.33 on Wednesday. The company has a market cap of $7.69 billion, a PE ratio of 7.96 and a beta of 0.78. The firm has a 50-day moving average of $92.09 and a 200-day moving average of $111.69. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.15%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling at Globe Life

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. Insiders have purchased a total of 4,000 shares of company stock worth $331,435 over the last ninety days. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GL shares. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research note on Tuesday. Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Evercore ISI decreased their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average 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.