Globe Life Inc. (NYSE:GL) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its stake in Globe Life Inc. (NYSE:GL) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,524 shares of the company’s stock after selling 31,647 shares during the period. Globe Life accounts for about 1.5% of Anchor Capital Advisors LLC’s portfolio, making the stock its 21st largest position. Anchor Capital Advisors LLC owned about 0.48% of Globe Life worth $55,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Globe Life by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after acquiring an additional 168,127 shares during the period. Cooke & Bieler LP raised its holdings in shares of Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after purchasing an additional 45,227 shares during the last quarter. Invesco Ltd. lifted its position in Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after purchasing an additional 67,753 shares during the period. Finally, Equity Investment Corp boosted its holdings in Globe Life by 1.9% in the third quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock valued at $79,118,000 after purchasing an additional 13,876 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The sale 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 stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Rodriguez bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the completion of the acquisition, 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. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Truist Financial dropped their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Evercore ISI lowered their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Price Performance

GL stock traded up $2.34 during midday trading on Monday, reaching $78.09. The stock had a trading volume of 4,649,181 shares, compared to its average volume of 2,162,230. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. 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’s fifty day simple moving average is $106.65 and its 200 day simple moving average is $115.32. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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). The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. During the same period in the prior year, the business posted $2.53 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. Globe Life’s dividend payout ratio is 9.17%.

Globe Life Company 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.