First Trust Direct Indexing L.P. Raises Stake in Globe Life Inc. (NYSE:GL)

First Trust Direct Indexing L.P. grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 3,287 shares of the company’s stock after acquiring an additional 302 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Globe Life were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Certuity LLC purchased a new position in Globe Life in the 4th quarter worth $967,000. Van ECK Associates Corp purchased a new position in shares of Globe Life in the fourth quarter worth about $1,563,000. Retirement Systems of Alabama bought a new stake in shares of Globe Life in the 4th quarter valued at about $2,297,000. PGGM Investments lifted its stake in shares of Globe Life by 0.8% in the 4th quarter. PGGM Investments now owns 59,177 shares of the company’s stock valued at $7,203,000 after acquiring an additional 458 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Globe Life by 0.7% during the 4th quarter. Russell Investments Group Ltd. now owns 153,630 shares of the company’s stock valued at $18,700,000 after acquiring an additional 995 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Up 4.2 %

NYSE:GL opened at $80.84 on Tuesday. The company has a 50-day moving average price of $101.82 and a 200-day moving average price of $114.04. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 7.72 and a beta of 0.78. 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.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 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 company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $2.53 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.19%. Globe Life’s payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Truist Financial decreased 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 note on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, Evercore ISI lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Insiders Place Their Bets

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

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.