Mackenzie Financial Corp Trims Holdings in Globe Life Inc. (NYSE:GL)

Mackenzie Financial Corp lowered its holdings in Globe Life Inc. (NYSE:GL) by 13.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,754 shares of the company’s stock after selling 3,145 shares during the quarter. Mackenzie Financial Corp’s holdings in Globe Life were worth $2,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GL. Strs Ohio bought a new position in shares of Globe Life during the fourth quarter valued at approximately $4,236,000. Vontobel Holding Ltd. lifted its position in shares of Globe Life by 243.1% in the 4th quarter. Vontobel Holding Ltd. now owns 7,590 shares of the company’s stock worth $924,000 after purchasing an additional 5,378 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Globe Life by 6.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock valued at $31,840,000 after acquiring an additional 15,329 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Globe Life during the 4th quarter worth approximately $633,000. Finally, Cerity Partners LLC bought a new position in shares of Globe Life in the 4th quarter worth approximately $244,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several research reports. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods reduced their target price on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 10th. Piper Sandler dropped their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company lowered their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Evercore ISI lowered their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Stock Performance

Shares of GL opened at $66.39 on Tuesday. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 6.59 and a beta of 0.69. The business’s fifty day simple moving average is $110.58 and its two-hundred day simple moving average is $116.35. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. Globe Life’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.24 EPS. Research analysts anticipate that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed 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 is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. Globe Life’s dividend payout ratio is 9.52%.

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.