Banco Santander S.A. Buys 64,162 Shares of Globe Life Inc. (NYSE:GL)

Banco Santander S.A. raised its stake in Globe Life Inc. (NYSE:GLGet Rating) by 889.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,379 shares of the company’s stock after acquiring an additional 64,162 shares during the quarter. Banco Santander S.A. owned approximately 0.07% of Globe Life worth $7,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Globe Life by 9.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,982 shares of the company’s stock valued at $4,928,000 after purchasing an additional 4,181 shares during the period. M&T Bank Corp boosted its stake in Globe Life by 11.3% in the first quarter. M&T Bank Corp now owns 11,966 shares of the company’s stock worth $1,204,000 after buying an additional 1,212 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Globe Life in the first quarter worth approximately $15,679,000. Los Angeles Capital Management LLC bought a new stake in Globe Life in the first quarter valued at approximately $200,000. Finally, CIBC Asset Management Inc lifted its position in Globe Life by 12.8% in the first quarter. CIBC Asset Management Inc now owns 24,014 shares of the company’s stock valued at $2,416,000 after purchasing an additional 2,729 shares during the last quarter. Institutional investors own 75.72% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, CAO Michael Shane Henrie sold 800 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Steven John Dichiaro sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $98.84, for a total value of $98,840.00. Following the transaction, the insider now directly owns 8,372 shares in the company, valued at approximately $827,488.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Shane Henrie sold 800 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The disclosure for this sale can be found here. 4.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $112.00 in a research report on Wednesday, June 15th. Piper Sandler lifted their target price on Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $110.43.

Globe Life Price Performance

Shares of NYSE:GL opened at $97.88 on Friday. The business’s 50 day simple moving average is $97.49 and its 200-day simple moving average is $99.53. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 13.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $85.25 and a 12 month high of $108.61.

Globe Life (NYSE:GLGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. Globe Life had a net margin of 13.68% and a return on equity of 9.06%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $1.85 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Tuesday, July 5th were paid a dividend of $0.2075 per share. The ex-dividend date of this dividend was Friday, July 1st. This represents a $0.83 annualized dividend and a yield of 0.85%. Globe Life’s dividend payout ratio (DPR) is 11.81%.

Globe Life Company Profile

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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