Daiwa Securities Group Inc. Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Daiwa Securities Group Inc. reduced its position in shares of Globe Life Inc. (NYSE:GL) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,391 shares of the company’s stock after selling 3,940 shares during the quarter. Daiwa Securities Group Inc. owned about 0.06% of Globe Life worth $6,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GL. Private Trust Co. NA grew its position in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Globe Life during the 4th quarter valued at approximately $28,000. Sunbelt Securities Inc. purchased a new stake in Globe Life during the 1st quarter valued at $29,000. AM Squared Ltd purchased a new stake in Globe Life during the 1st quarter valued at $44,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Globe Life in the fourth quarter worth $63,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of GL opened at $64.99 on Friday. The stock has a market capitalization of $6.11 billion, a PE ratio of 6.45 and a beta of 0.69. The company has a 50 day moving average price of $112.97 and a 200-day moving average price of $116.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $2.24 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. Globe Life’s dividend payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Wells Fargo & Company cut their price target on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Finally, Truist Financial reissued a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. 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 data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $126.44.

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.