Strs Ohio Makes New $4.24 Million Investment in Globe Life Inc. (NYSE:GL)

Strs Ohio bought a new stake in Globe Life Inc. (NYSE:GL) in the 4th quarter, Holdings Channel reports. The institutional investor bought 34,807 shares of the company’s stock, valued at approximately $4,236,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in shares of Globe Life by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock valued at $230,000 after buying an additional 99 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Globe Life by 3.2% during the 4th quarter. Ascent Group LLC now owns 3,426 shares of the company’s stock valued at $413,000 after purchasing an additional 105 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Globe Life by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,725 shares of the company’s stock valued at $299,000 after purchasing an additional 106 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in shares of Globe Life by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after purchasing an additional 116 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after purchasing an additional 121 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 2.8 %

Globe Life stock opened at $64.99 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm’s fifty day moving average is $112.97 and its 200 day moving average is $116.83. The company has a market capitalization of $6.11 billion, a PE ratio of 6.45 and a beta of 0.69.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $2.24 EPS. Globe Life’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Globe Life Inc. will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GL. Piper Sandler decreased their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Truist Financial reaffirmed a “hold” rating and set a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. StockNews.com raised shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI decreased their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

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.