Gotham Asset Management LLC Has $1 Million Holdings in Globe Life Inc. (NYSE:GL)

Gotham Asset Management LLC lifted its stake in Globe Life Inc. (NYSE:GL) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,997 shares of the company’s stock after acquiring an additional 668 shares during the period. Gotham Asset Management LLC’s holdings in Globe Life were worth $1,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing an additional 8,663 shares during the period. Merit Financial Group LLC bought a new stake in shares of Globe Life in the fourth quarter valued at about $487,000. HB Wealth Management LLC grew its position in Globe Life by 49.4% during the fourth quarter. HB Wealth Management LLC now owns 3,093 shares of the company’s stock worth $345,000 after buying an additional 1,023 shares in the last quarter. Polianta Ltd bought a new position in Globe Life during the fourth quarter valued at about $1,249,000. Finally, Ballentine Partners LLC increased its stake in Globe Life by 4.5% during the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock valued at $313,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $121.87 on Friday. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 10.20 and a beta of 0.56. The company has a 50-day moving average of $123.20 and a 200-day moving average of $117.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share 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 firm 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 company posted $2.78 earnings per share. Globe Life’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life’s payout ratio is presently 8.79%.

Analyst Ratings Changes

A number of analysts have commented on GL shares. StockNews.com upgraded Globe Life from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

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.