Mutual of America Capital Management LLC Sells 705 Shares of Globe Life Inc. (NYSE:GL)

Mutual of America Capital Management LLC lowered its position in shares of Globe Life Inc. (NYSE:GL) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,468 shares of the company’s stock after selling 705 shares during the period. Mutual of America Capital Management LLC’s holdings in Globe Life were worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. raised its position in Globe Life by 3.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 26,600 shares of the company’s stock worth $3,238,000 after buying an additional 957 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Globe Life by 72.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock worth $443,000 after acquiring an additional 1,526 shares during the period. Nisa Investment Advisors LLC lifted its position in Globe Life by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock valued at $4,548,000 after purchasing an additional 397 shares during the period. Stratos Wealth Partners LTD. bought a new position in Globe Life during the fourth quarter valued at approximately $217,000. Finally, Stratos Wealth Advisors LLC purchased a new stake in Globe Life in the fourth quarter worth approximately $227,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

GL opened at $66.39 on Tuesday. The company has a 50 day simple moving average of $110.58 and a two-hundred day simple moving average of $116.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $6.24 billion, a P/E ratio of 6.59 and a beta of 0.69. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share 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 analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company earned $2.24 EPS. Globe Life’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm 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. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.45%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is currently 9.52%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GL shares. Truist Financial restated a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Piper Sandler cut their price target on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Finally, Wells Fargo & Company decreased their price target on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Six investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.