Globe Life Inc. (NYSE:GL) Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. decreased its position in shares of Globe Life Inc. (NYSE:GL) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,298 shares of the company’s stock after selling 1,833 shares during the period. Machina Capital S.A.S.’s holdings in Globe Life were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Vanguard Group Inc. grew its position in Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. increased its position in Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after acquiring an additional 168,127 shares during the period. Cooke & Bieler LP raised its stake in Globe Life by 2.0% during the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after acquiring an additional 45,227 shares during the last quarter. Invesco Ltd. lifted its position in Globe Life by 3.7% during the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after acquiring an additional 67,753 shares during the period. Finally, Equity Investment Corp grew its stake in shares of Globe Life by 1.9% in the 3rd quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock valued at $79,118,000 after purchasing an additional 13,876 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, Director David A. Rodriguez acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the transaction, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Rodriguez acquired 1,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial decreased their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI reduced their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Piper Sandler dropped their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Price Performance

NYSE GL traded up $3.29 during mid-day trading on Monday, hitting $80.84. The stock had a trading volume of 2,315,129 shares, compared to its average volume of 2,196,489. The company has a 50 day simple moving average of $101.82 and a 200 day simple moving average of $114.04. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 7.73 and a beta of 0.78. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $2.53 EPS. Equities analysts forecast that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.19%. Globe Life’s dividend payout ratio is currently 9.17%.

Globe Life Company 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.