Northwestern Mutual Investment Management Company LLC lessened its stake in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,696 shares of the company’s stock after selling 484 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Globe Life were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. River Wealth Advisors LLC raised its position in shares of Globe Life by 8.4% during the 1st quarter. River Wealth Advisors LLC now owns 3,561 shares of the company’s stock valued at $358,000 after buying an additional 275 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Globe Life by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 128,381 shares of the company’s stock valued at $12,915,000 after buying an additional 6,629 shares in the last quarter. Swiss National Bank raised its position in shares of Globe Life by 13.2% during the 1st quarter. Swiss National Bank now owns 415,572 shares of the company’s stock valued at $41,807,000 after buying an additional 48,300 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Globe Life by 9.8% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,742 shares of the company’s stock valued at $276,000 after buying an additional 244 shares in the last quarter. Finally, Kentucky Retirement Systems raised its position in shares of Globe Life by 3.8% during the 1st quarter. Kentucky Retirement Systems now owns 5,922 shares of the company’s stock valued at $596,000 after buying an additional 218 shares in the last quarter. Institutional investors own 75.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on GL. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $108.00 to $112.00 in a research report on Monday, July 11th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $105.00 to $112.00 in a research report on Wednesday, June 15th. Finally, Piper Sandler increased their price objective on shares of Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, July 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $110.43.
In other news, CAO Michael Shane Henrie sold 800 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.62% of the company’s stock.
Globe Life Stock Performance
Shares of NYSE:GL opened at $103.26 on Monday. The firm has a market cap of $10.06 billion, a PE ratio of 14.69 and a beta of 0.88. The firm’s 50 day simple moving average is $97.83 and its 200-day simple moving average is $99.44. Globe Life Inc. has a one year low of $85.25 and a one year high of $108.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.06 and a current ratio of 0.06.
Globe Life (NYSE:GL – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. Globe Life had a net margin of 13.68% and a return on equity of 9.90%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year.
Globe Life Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Tuesday, July 5th were paid a dividend of $0.2075 per share. The ex-dividend date was Friday, July 1st. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.80%. Globe Life’s dividend payout ratio is presently 11.81%.
About Globe Life
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
Receive News & Ratings for Globe Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Globe Life and related companies with MarketBeat.com’s FREE daily email newsletter.