Globe Life Inc. (NYSE:GL) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Globe Life Inc. (NYSE:GL) by 177.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,279,818 shares of the company’s stock after purchasing an additional 817,760 shares during the quarter. Millennium Management LLC owned 1.42% of Globe Life worth $105,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GL. NBC Securities Inc. boosted its holdings in shares of Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after acquiring an additional 153 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares in the last quarter. Perigon Wealth Management LLC increased its position in Globe Life by 7.6% during the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after purchasing an additional 184 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Globe Life by 33.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after buying an additional 201 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GL shares. Evercore ISI upped their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Jefferies Financial Group boosted their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Piper Sandler upped their price target on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Truist Financial lifted their price objective on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.33.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.51% of the stock is owned by corporate insiders.

Globe Life Trading Down 4.7 %

Shares of Globe Life stock opened at $104.40 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day moving average price of $98.97 and a 200 day moving average price of $91.72. The company has a market capitalization of $9.38 billion, a P/E ratio of 9.97 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $2.61 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is 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.