PGGM Investments Raises Position in Globe Life Inc. (NYSE:GL)

PGGM Investments grew its position in Globe Life Inc. (NYSE:GL) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,177 shares of the company’s stock after buying an additional 458 shares during the period. PGGM Investments owned approximately 0.06% of Globe Life worth $7,203,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Globe Life by 488.6% in the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after buying an additional 27,908 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after purchasing an additional 1,295 shares during the last quarter. AIA Group Ltd purchased a new position in shares of Globe Life during the fourth quarter valued at approximately $1,788,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Globe Life by 6.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock valued at $31,840,000 after purchasing an additional 15,329 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Globe Life by 72.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after purchasing an additional 1,526 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. 1.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GL shares. Truist Financial decreased their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Piper Sandler reduced their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Price Performance

Shares of GL traded up $0.21 during mid-day trading on Friday, reaching $75.75. The stock had a trading volume of 5,993,318 shares, compared to its average volume of 6,260,843. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The business has a fifty day moving average of $106.65 and a 200 day moving average of $115.30. 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 (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.53 earnings per share. Equities analysts predict that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. Globe Life’s dividend payout ratio is currently 9.17%.

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.