Tokio Marine Asset Management Co. Ltd. Buys New Shares in Globe Life Inc. (NYSE:GL)

Tokio Marine Asset Management Co. Ltd. bought a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, HoldingsChannel reports. The fund bought 1,803 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Globe Life by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after acquiring an additional 168,127 shares in the last quarter. Cooke & Bieler LP raised its holdings in Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after acquiring an additional 45,227 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares during the period. Finally, Equity Investment Corp raised its holdings in shares of Globe Life by 1.9% during the third quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock worth $79,118,000 after purchasing an additional 13,876 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globe Life

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

Wall Street Analysts Forecast Growth

GL has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Truist Financial dropped their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company lowered their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Stock Performance

Shares of GL opened at $75.75 on Monday. The firm has a 50-day moving average price of $106.65 and a 200 day moving average price of $115.32. The firm has a market capitalization of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results 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 net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $2.53 earnings per share. Globe Life’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date 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.