Virtus Investment Advisers Inc. Purchases New Shares in Globe Life Inc. (NYSE:GL)

Virtus Investment Advisers Inc. bought a new position in shares of Globe Life Inc. (NYSE:GL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 12,173 shares of the company’s stock, valued at approximately $1,358,000. Globe Life comprises about 1.1% of Virtus Investment Advisers Inc.’s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors have also modified their holdings of GL. Norges Bank bought a new stake in Globe Life during the fourth quarter valued at $112,454,000. Raymond James Financial Inc. bought a new stake in Globe Life in the fourth quarter valued at $61,238,000. Swedbank AB acquired a new position in shares of Globe Life during the fourth quarter valued at $52,414,000. Freestone Grove Partners LP bought a new stake in Globe Life in the 4th quarter valued at about $52,178,000. Finally, Marshall Wace LLP boosted its stake in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after purchasing an additional 457,802 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $121.87 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50-day moving average of $123.20 and a 200-day moving average of $117.73. The company has a market cap of $10.06 billion, a PE ratio of 10.20 and a beta of 0.56. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76.

Globe Life (NYSE:GL) last posted 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). 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 firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.78 earnings per share. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GL. Morgan Stanley decreased their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Piper Sandler dropped their target price on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.00.

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.