1,016,117 Shares in Globe Life Inc. (NYSE:GL) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,016,117 shares of the company’s stock, valued at approximately $123,682,000. Norges Bank owned approximately 1.08% of Globe Life at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GL. NBC Securities Inc. bought a new stake in shares of Globe Life in the 3rd quarter worth $635,000. Ieq Capital LLC bought a new stake in shares of Globe Life in the 3rd quarter worth $241,000. Los Angeles Capital Management LLC raised its stake in shares of Globe Life by 18.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 310,784 shares of the company’s stock worth $33,792,000 after buying an additional 47,942 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Globe Life in the 3rd quarter worth $261,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Globe Life by 6.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 78,130 shares of the company’s stock worth $8,495,000 after buying an additional 4,430 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GL shares. JPMorgan Chase & Co. boosted 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. Piper Sandler decreased their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Truist Financial lowered their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Wells Fargo & Company lowered their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Insiders Place Their Bets

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

Globe Life Stock Performance

Shares of NYSE GL opened at $80.55 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The business’s 50-day moving average price is $90.71 and its two-hundred day moving average price is $111.29. The company has a market capitalization of $7.43 billion, a P/E ratio of 7.69 and a beta of 0.78. 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 company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.24 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. Globe Life’s dividend payout ratio is currently 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.