Quantinno Capital Management LP Increases Position in Globe Life Inc. (NYSE:GL)

Quantinno Capital Management LP lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 99.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,949 shares of the company’s stock after acquiring an additional 12,448 shares during the quarter. Quantinno Capital Management LP’s holdings in Globe Life were worth $2,782,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GL. Norges Bank bought a new stake in Globe Life in the fourth quarter valued at about $112,454,000. Raymond James Financial Inc. bought a new stake in Globe Life in the fourth quarter valued at about $61,238,000. Swedbank AB bought a new stake in Globe Life in the fourth quarter valued at about $52,414,000. Freestone Grove Partners LP bought a new stake in Globe Life in the fourth quarter valued at about $52,178,000. Finally, Marshall Wace LLP increased its holdings in Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after buying an additional 457,802 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Shares of NYSE GL opened at $122.07 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $123.19 and a 200-day simple moving average of $117.86. The company has a market cap of $10.08 billion, a PE ratio of 10.22 and a beta of 0.56. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.78 earnings per share. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. Globe Life’s dividend payout ratio is presently 8.79%.

Analyst Ratings Changes

GL has been the subject of several research analyst reports. StockNews.com raised Globe Life from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler decreased their target price on Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company decreased their target price on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.73.

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.