Rakuten Investment Management Inc. Invests $9.06 Million in Globe Life Inc. $GL

Rakuten Investment Management Inc. bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,401 shares of the company’s stock, valued at approximately $9,064,000. Rakuten Investment Management Inc. owned about 0.08% of Globe Life as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GL. Global Assets Advisory LLC purchased a new stake in Globe Life in the second quarter valued at about $25,000. AdvisorNet Financial Inc raised its position in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Globe Life in the 3rd quarter valued at approximately $28,000. CYBER HORNET ETFs LLC acquired a new stake in Globe Life in the 2nd quarter worth approximately $28,000. Finally, Assetmark Inc. grew its position in Globe Life by 777.8% during the 2nd quarter. Assetmark Inc. now owns 237 shares of the company’s stock worth $29,000 after purchasing an additional 210 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GL shares. Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Wells Fargo & Company dropped their price objective on Globe Life from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Morgan Stanley restated an “overweight” rating and issued a $176.00 price objective on shares of Globe Life in a research report on Monday, December 15th. Piper Sandler reissued an “overweight” rating and issued a $167.00 price target on shares of Globe Life in a research note on Friday, November 21st. Finally, TD Cowen restated a “buy” rating on shares of Globe Life in a research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.22.

Globe Life Trading Up 1.3%

Shares of GL stock opened at $138.72 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $11.04 billion, a P/E ratio of 10.05 and a beta of 0.48. The stock’s fifty day moving average is $137.38 and its two-hundred day moving average is $136.32. Globe Life Inc. has a fifty-two week low of $109.38 and a fifty-two week high of $147.83.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.27. Globe Life had a net margin of 19.36% and a return on equity of 21.81%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $3.44 EPS. Research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, January 5th. Globe Life’s dividend payout ratio is 7.83%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 9,379 shares of Globe Life stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the sale, the chief executive officer directly owned 35,868 shares in the company, valued at $5,036,943.24. This trade represents a 20.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is owned by company insiders.

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.