17,279 Shares in Globe Life Inc. $GL Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama acquired a new stake in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 17,279 shares of the company’s stock, valued at approximately $2,470,000.

Several other hedge funds also recently made changes to their positions in GL. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Globe Life during the third quarter worth $261,000. Rakuten Investment Management Inc. bought a new stake in shares of Globe Life during the 3rd quarter valued at about $9,064,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Globe Life by 6.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,059 shares of the company’s stock worth $7,872,000 after acquiring an additional 3,489 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Globe Life by 9.4% in the third quarter. Chicago Partners Investment Group LLC now owns 3,318 shares of the company’s stock worth $446,000 after acquiring an additional 285 shares during the last quarter. Finally, Sage Mountain Advisors LLC acquired a new position in Globe Life in the third quarter valued at approximately $305,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GL shares. Weiss Ratings cut Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company dropped their price target on shares of Globe Life from $172.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $167.00 price objective on shares of Globe Life in a research report on Friday, November 21st. Finally, TD Cowen reissued a “buy” rating on shares of Globe Life in a report on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $166.22.

Globe Life Trading Up 0.1%

Shares of GL stock opened at $140.11 on Monday. The stock has a 50-day simple moving average of $138.32 and a 200 day simple moving average of $137.37. The stock has a market capitalization of $11.15 billion, a P/E ratio of 10.15 and a beta of 0.47. Globe Life Inc. has a fifty-two week low of $109.38 and a fifty-two week high of $147.83. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.41.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life’s dividend payout ratio is currently 7.83%.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 9,379 shares of Globe Life stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $140.43, for a total value of $1,317,092.97. Following the transaction, the chief executive officer owned 35,868 shares in the company, valued at approximately $5,036,943.24. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.97% of the company’s stock.

Globe Life 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.