Louisiana State Employees Retirement System Makes New Investment in Globe Life Inc. (NYSE:GL)

Louisiana State Employees Retirement System purchased a new position in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,200 shares of the company’s stock, valued at approximately $633,000.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Globe Life by 11.4% during the third quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after acquiring an additional 156 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Globe Life during the third quarter valued at about $625,000. Czech National Bank raised its stake in shares of Globe Life by 44.5% during the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after acquiring an additional 4,677 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Globe Life by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock valued at $4,056,000 after acquiring an additional 476 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Globe Life by 7.8% during the third quarter. Handelsbanken Fonder AB now owns 48,958 shares of the company’s stock valued at $5,323,000 after acquiring an additional 3,543 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on GL shares. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. 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 report on Friday, April 12th. Finally, Truist Financial reduced their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Insider Buying and Selling

In other news, Director David A. Rodriguez purchased 1,500 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the purchase, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Trading Up 0.3 %

Globe Life stock opened at $75.75 on Monday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The business’s fifty day moving average is $106.65 and its 200 day moving average is $115.32. 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 stock has a market capitalization of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. On average, sell-side analysts predict that Globe Life Inc. will post 11.73 EPS for the current 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 represents a $0.96 annualized dividend and a dividend yield of 1.27%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

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.