Prospector Partners LLC Has $17.45 Million Stock Position in Globe Life Inc. (NYSE:GL)

Prospector Partners LLC boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,026 shares of the company’s stock after buying an additional 1,636 shares during the period. Globe Life comprises 2.0% of Prospector Partners LLC’s investment portfolio, making the stock its 14th largest holding. Prospector Partners LLC owned about 0.24% of Globe Life worth $17,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Quadrature Capital Ltd raised its stake in Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after purchasing an additional 15,862 shares during the period. Savant Capital LLC lifted its holdings in shares of Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after purchasing an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after purchasing an additional 17,878 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GL. Evercore ISI lifted their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Wells Fargo & Company upped their target price on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Truist Financial boosted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group lifted their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Insider Buying and Selling

In other news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

GL stock opened at $106.26 on Friday. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 10.15 and a beta of 0.81. The firm has a 50 day moving average of $97.02 and a two-hundred day moving average of $92.35. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $2.61 earnings per share. Globe Life’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

About Globe Life

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.