Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Globe Life Inc. (NYSE:GL)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 56.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,623 shares of the company’s stock after selling 21,129 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globe Life were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GL. Pacer Advisors Inc. raised its stake in shares of Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after acquiring an additional 27,908 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after acquiring an additional 1,295 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Globe Life by 6.2% during the fourth 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 during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Globe Life by 72.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after acquiring an additional 1,526 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Globe Life by 191.4% during the fourth quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock valued at $3,994,000 after acquiring an additional 21,552 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of GL opened at $75.79 on Wednesday. The stock has a market cap of $7.13 billion, a PE ratio of 7.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s 50-day simple moving average is $109.59 and its two-hundred day simple moving average is $116.08.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts anticipate that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. Globe Life’s dividend payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GL shares. Wells Fargo & Company lowered their price objective on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, April 10th. Evercore ISI decreased their price target on shares of 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. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial reissued a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life 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.