Globe Life Inc. (NYSE:GL) Shares Acquired by Railway Pension Investments Ltd

Railway Pension Investments Ltd boosted its holdings in Globe Life Inc. (NYSE:GL) by 42.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,200 shares of the company’s stock after buying an additional 5,700 shares during the period. Railway Pension Investments Ltd’s holdings in Globe Life were worth $2,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. NBC Securities Inc. grew its stake in Globe Life by 2.7% during the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the period. Private Trust Co. NA raised its stake in shares of 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 acquiring an additional 162 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Globe Life by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of recent research reports. Piper Sandler increased their target price on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday. Evercore ISI lifted their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Raymond James restated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Truist Financial boosted their price target on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Five 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.33.

Globe Life Stock Performance

Shares of GL traded down $2.04 during mid-day trading on Friday, hitting $90.91. The stock had a trading volume of 937,317 shares, compared to its average volume of 915,633. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The company has a market cap of $8.19 billion, a PE ratio of 8.68 and a beta of 0.80. The company’s fifty day simple moving average is $84.51 and its two-hundred day simple moving average is $98.46.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $2.61 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts expect that Globe Life Inc. will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, July 5th. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling

In other news, CEO James Matthew Darden bought 2,000 shares of Globe Life stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary E. Thigpen bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the transaction, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 8,000 shares of company stock valued at $687,880. Insiders own 1.51% of the company’s stock.

Globe Life 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.