Globe Life Inc. (NYSE:GL) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in Globe Life Inc. (NYSE:GL) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,702 shares of the company’s stock after purchasing an additional 1,179 shares during the quarter. Retirement Systems of Alabama’s holdings in Globe Life were worth $2,087,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in Globe Life during the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC raised its position in shares of Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the last quarter. Family Firm Inc. purchased a new position in Globe Life in the 2nd quarter valued at about $54,000. Finally, True Wealth Design LLC acquired a new stake in Globe Life in the 3rd quarter worth about $59,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

Shares of GL stock opened at $109.39 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $9.18 billion, a PE ratio of 9.25 and a beta of 0.81. The firm’s 50-day moving average is $108.09 and its two-hundred day moving average is $98.63. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.71 EPS. Analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Raymond James increased their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Globe Life 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.