Rhumbline Advisers Has $27.53 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Rhumbline Advisers lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,018 shares of the company’s stock after buying an additional 8,531 shares during the period. Rhumbline Advisers owned about 0.25% of Globe Life worth $27,532,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GL. Rakuten Securities Inc. acquired a new stake in Globe Life in the 4th quarter valued at about $28,000. Avalon Trust Co acquired a new stake in Globe Life in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC lifted its stake in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in Globe Life in the 4th quarter valued at about $45,000. Finally, Versant Capital Management Inc lifted its stake in Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock valued at $77,000 after purchasing an additional 342 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on GL. Piper Sandler cut their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Morgan Stanley raised their price objective on shares of Globe Life from $117.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company cut their price objective on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $137.73.

Globe Life Stock Down 0.5%

Shares of GL opened at $119.69 on Friday. Globe Life Inc. has a 12 month low of $76.55 and a 12 month high of $133.76. The firm’s 50 day moving average is $121.25 and its 200-day moving average is $118.83. The stock has a market capitalization of $9.88 billion, a PE ratio of 10.02 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

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

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. Globe Life’s dividend payout ratio (DPR) is 8.79%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the transaction, the chief executive officer now directly owns 31,298 shares of the company’s stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.51% of the stock is currently owned by insiders.

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.