Dimensional Fund Advisors LP Has $101.69 Million Stake in Globe Life Inc. (NYSE:GL)

Dimensional Fund Advisors LP lowered its holdings in Globe Life Inc. (NYSE:GL) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,235,906 shares of the company’s stock after selling 59,650 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Globe Life were worth $101,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. NBC Securities Inc. increased its position in shares of Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares during the period. Commonwealth Equity Services LLC increased its holdings in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after buying an additional 167 shares during the period. Perigon Wealth Management LLC raised its position in shares of Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after buying an additional 184 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Globe Life by 33.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after acquiring an additional 201 shares during the period. Finally, SRN Advisors LLC lifted its holdings in shares of Globe Life by 5.2% during the 1st quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock worth $786,000 after acquiring an additional 332 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $108.12 on Wednesday. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 10.33 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $97.83 and its 200-day moving average price is $91.85. 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, beating 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $2.61 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The firm 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. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Globe Life’s dividend payout ratio is 9.17%.

Insider Buying and Selling

In related news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GL shares. Piper Sandler lifted their price objective on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial lifted their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Morgan Stanley lifted their target price on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $108.33.

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.