Globe Life Inc. (NYSE:GL) Stock Position Raised by Swiss National Bank

Swiss National Bank boosted its holdings in Globe Life Inc. (NYSE:GL) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,500 shares of the company’s stock after acquiring an additional 3,600 shares during the period. Swiss National Bank owned about 0.32% of Globe Life worth $36,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in Globe Life during the 3rd quarter valued at about $464,000. Raymond James & Associates boosted its holdings in shares of Globe Life by 0.3% in the third quarter. Raymond James & Associates now owns 175,111 shares of the company’s stock valued at $19,040,000 after acquiring an additional 505 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after purchasing an additional 121 shares during the period. Forsta AP Fonden bought a new stake in Globe Life in the third quarter worth about $881,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Globe Life by 5.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,752 shares of the company’s stock valued at $4,105,000 after acquiring an additional 2,079 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’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 sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was bought 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 directly owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value 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 $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI dropped their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Finally, Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Performance

Shares of GL opened at $85.26 on Wednesday. The company has a market capitalization of $8.02 billion, a PE ratio of 8.14 and a beta of 0.78. The company’s fifty day moving average price is $100.90 and its 200 day moving average price is $113.80. 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 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 earnings per share. As a group, analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is 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.