81,166 Shares in Globe Life Inc. (NYSE:GL) Bought by Algert Global LLC

Algert Global LLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 81,166 shares of the company’s stock, valued at approximately $6,678,000. Algert Global LLC owned 0.09% of Globe Life at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have commented on GL shares. Piper Sandler upped their price objective on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price objective 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. Evercore ISI increased their target price on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company lifted their price target on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $108.33.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.51% of the company’s stock.

Globe Life Trading Down 4.7 %

Shares of GL stock opened at $104.40 on Monday. The company has a market capitalization of $9.40 billion, a PE ratio of 9.97 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The business’s fifty day moving average is $98.97 and its 200 day moving average is $91.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last released 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. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm posted $2.61 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio is presently 9.17%.

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.