Globe Life Inc. $GL Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in Globe Life Inc. (NYSE:GL) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,353,192 shares of the company’s stock after acquiring an additional 217,331 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Globe Life were worth $327,479,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Globe Life by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock worth $1,237,000 after acquiring an additional 607 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Globe Life by 368.1% in the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock valued at $897,000 after purchasing an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 purchased a new stake in shares of Globe Life during the 1st quarter worth $428,000. Finally, Focus Partners Wealth lifted its position in shares of Globe Life by 8.3% during the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock worth $1,127,000 after purchasing an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.1%

Shares of Globe Life stock opened at $184.38 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $167.76 and a 200-day simple moving average of $152.23. 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 Inc. has a 12-month low of $120.05 and a 12-month high of $191.55.

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

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. Globe Life’s dividend payout ratio (DPR) is presently 9.13%.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 34,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $153.81, for a total value of $5,229,540.00. Following the completion of the sale, the executive vice president directly owned 53,518 shares of the company’s stock, valued at approximately $8,231,603.58. The trade was a 38.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $153.65, for a total value of $2,402,625.05. Following the completion of the sale, the chief financial officer directly owned 45,335 shares of the company’s stock, valued at approximately $6,965,722.75. This trade represents a 25.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 124,187 shares of company stock valued at $19,529,414. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GL shares. Truist Financial increased their target price on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $180.00 to $192.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Morgan Stanley upped their price objective on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Jefferies Financial Group increased their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, Piper Sandler raised their target price on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $186.60.

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.