abrdn plc Raises Stock Holdings in Globe Life Inc. (NYSE:GL)

abrdn plc increased its position in Globe Life Inc. (NYSE:GL) by 97.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 46,160 shares of the company’s stock after buying an additional 22,755 shares during the period. abrdn plc’s holdings in Globe Life were worth $5,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Globe Life during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new position in shares of Globe Life during the 3rd quarter valued at about $61,000. Bruce G. Allen Investments LLC purchased a new position in shares of Globe Life during the 4th quarter valued at about $63,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Globe Life during the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GL shares. Wells Fargo & Company reduced their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. Piper Sandler reduced their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Truist Financial reduced their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Trading Up 0.3 %

GL stock opened at $75.75 on Friday. 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 Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. The business’s 50-day moving average is $106.65 and its 200 day moving average is $115.30.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Globe Life Inc. will post 11.73 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. 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. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is currently 9.17%.

Insider Transactions at Globe Life

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Rodriguez bought 1,500 shares of the stock in a transaction dated Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

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.