Fifth Third Bancorp Buys 10,451 Shares of Globe Life Inc. $GL

Fifth Third Bancorp lifted its stake in Globe Life Inc. (NYSE:GL) by 148.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,506 shares of the company’s stock after purchasing an additional 10,451 shares during the period. Fifth Third Bancorp’s holdings in Globe Life were worth $2,436,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Globe Life by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock valued at $1,237,000 after acquiring an additional 607 shares during the period. NewEdge Advisors LLC increased its position in Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after purchasing an additional 5,352 shares during the period. Goldman Sachs Group Inc. raised its holdings in Globe Life by 11.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock worth $74,161,000 after purchasing an additional 58,163 shares during the last quarter. Empowered Funds LLC bought a new stake in Globe Life during the 1st quarter worth about $428,000. Finally, Focus Partners Wealth lifted its position in Globe Life by 8.3% during the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after purchasing an additional 656 shares during the period. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Globe Life from $180.00 to $192.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Morgan Stanley increased their target price on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $186.60.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 20,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the completion of the transaction, the chief executive officer directly owned 54,020 shares in the company, valued at approximately $8,463,853.60. This trade represents a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 4,663 shares of Globe Life stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the sale, the chief executive officer directly owned 58,451 shares in the company, valued at approximately $8,994,439.88. This represents a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 124,187 shares of company stock worth $19,529,414. Company insiders own 2.11% of the company’s stock.

Globe Life Price Performance

NYSE GL opened at $184.38 on Wednesday. The business has a 50 day simple moving average of $167.76 and a 200 day simple moving average of $152.23. Globe Life Inc. has a 52-week low of $120.05 and a 52-week high of $191.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 12.75 and a beta of 0.47.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $3.07 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Globe Life Inc. will post 15.64 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life’s payout ratio is currently 9.13%.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.