Credit Suisse AG lifted its holdings in shares of Globe Life Inc. (NYSE:GL – Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,005 shares of the company’s stock after buying an additional 7,086 shares during the period. Credit Suisse AG owned about 0.14% of Globe Life worth $14,413,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of GL. Wellington Management Group LLP grew its position in Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after buying an additional 1,973,186 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Globe Life by 112.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,265,399 shares of the company’s stock worth $273,093,000 after acquiring an additional 1,199,227 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Globe Life by 41,273.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,190,306 shares of the company’s stock worth $143,162,000 after acquiring an additional 1,187,429 shares during the period. Norges Bank purchased a new position in Globe Life in the 4th quarter valued at approximately $112,989,000. Finally, Invesco Ltd. raised its holdings in Globe Life by 36.3% during the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock worth $191,981,000 after purchasing an additional 508,064 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GL has been the topic of several research reports. StockNews.com started coverage on Globe Life in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Piper Sandler raised their target price on shares of Globe Life from $130.00 to $131.00 in a report on Friday, July 28th. Finally, Morgan Stanley upgraded shares of Globe Life from an “underweight” rating to an “equal weight” rating and set a $131.00 target price for the company in a research report on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $130.14.
Insiders Place Their Bets
In other news, Director Cheryl Alston sold 16,691 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $108.81, for a total transaction of $1,816,147.71. Following the completion of the transaction, the director now owns 6,238 shares of the company’s stock, valued at approximately $678,756.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $113.57, for a total transaction of $1,419,625.00. Following the completion of the sale, the chief executive officer now owns 3,370 shares of the company’s stock, valued at $382,730.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cheryl Alston sold 16,691 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $108.81, for a total value of $1,816,147.71. Following the sale, the director now owns 6,238 shares of the company’s stock, valued at $678,756.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,191 shares of company stock valued at $3,347,833. Insiders own 4.33% of the company’s stock.
Globe Life Trading Up 0.0 %
Shares of GL stock opened at $111.46 on Friday. The firm has a 50-day moving average price of $111.50 and a 200 day moving average price of $111.12. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 13.02 and a beta of 0.79. Globe Life Inc. has a twelve month low of $96.23 and a twelve month high of $123.85.
Globe Life (NYSE:GL – Get Free Report) last announced its earnings results on Wednesday, July 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. Globe Life had a net margin of 15.91% and a return on equity of 21.82%. Globe Life’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 earnings per share. Research analysts forecast that Globe Life Inc. will post 10.48 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Wednesday, July 5th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.90 annualized dividend and a yield of 0.81%. Globe Life’s dividend payout ratio (DPR) is presently 10.51%.
About Globe Life
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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