New York State Common Retirement Fund Sells 32,499 Shares of Globe Life Inc. (NYSE:GL)

New York State Common Retirement Fund lowered its position in Globe Life Inc. (NYSE:GL) by 11.5% during the 4th quarter, HoldingsChannel reports. The firm owned 249,065 shares of the company’s stock after selling 32,499 shares during the period. New York State Common Retirement Fund’s holdings in Globe Life were worth $30,316,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA increased its stake in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new position in Globe Life in the fourth quarter valued at $28,000. Lindbrook Capital LLC increased its stake in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Globe Life during the third quarter valued at about $61,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Globe Life during the fourth quarter valued at about $63,000. Institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the subject of several analyst reports. Truist Financial cut their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Evercore ISI cut their price target 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 shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Performance

Shares of GL opened at $75.54 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a 50-day simple moving average of $107.65 and a two-hundred day simple moving average of $115.54. The firm has a market capitalization of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $2.53 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Globe Life Inc. will post 11.68 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

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.