Canada Pension Plan Investment Board Has $1.23 Million Holdings in Globe Life Inc. (NYSE:GL)

Canada Pension Plan Investment Board raised its stake in shares of Globe Life Inc. (NYSE:GL) by 105.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,000 shares of the company’s stock after purchasing an additional 7,700 shares during the period. Canada Pension Plan Investment Board’s holdings in Globe Life were worth $1,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Keener Financial Planning LLC purchased a new stake in shares of Globe Life in the first quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Globe Life in the 1st quarter worth approximately $72,000. Family Firm Inc. bought a new position in shares of Globe Life in the second quarter valued at approximately $54,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Globe Life during the first quarter valued at approximately $82,000. 81.61% of the stock is owned by institutional investors.

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI increased their price target on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Truist Financial lifted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Stock Down 4.7 %

Globe Life stock opened at $104.41 on Friday. The firm has a 50 day simple moving average of $98.97 and a 200 day simple moving average of $91.95. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 9.97 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 earnings per share. On average, analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is currently 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.