Citizens Financial Group Inc. RI Buys New Shares in Globe Life Inc. (NYSE:GL)

Citizens Financial Group Inc. RI bought a new stake in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,264 shares of the company’s stock, valued at approximately $762,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Globe Life during the fourth quarter valued at $28,000. Lindbrook Capital LLC lifted its position in shares of 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 in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Globe Life in the fourth quarter valued at about $63,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Globe Life in the third quarter valued at about $61,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GL. Wells Fargo & Company lowered their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI lowered their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Piper Sandler lowered their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $130.00 to $110.00 in a research report on Wednesday. Finally, Truist Financial lowered their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Insiders Place Their Bets

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

Globe Life Price Performance

NYSE:GL opened at $75.75 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The business’s 50-day moving average is $106.65 and its 200 day moving average is $115.30.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share 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 for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $2.53 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed 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 a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is presently 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.