Vanguard Group Inc. Increases Stock Position in Globe Life Inc. (NYSE:GL)

Vanguard Group Inc. raised its holdings in Globe Life Inc. (NYSE:GL) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,955,014 shares of the company’s stock after purchasing an additional 70,540 shares during the quarter. Vanguard Group Inc. owned 10.77% of Globe Life worth $1,043,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quadrant Capital Group LLC boosted its stake in shares of Globe Life by 41.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 408 shares of the company’s stock worth $39,000 after acquiring an additional 120 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of Globe Life during the 2nd quarter worth approximately $60,000. Parallel Advisors LLC boosted its stake in shares of Globe Life by 343.2% during the 2nd quarter. Parallel Advisors LLC now owns 647 shares of the company’s stock worth $62,000 after acquiring an additional 501 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in shares of Globe Life during the 2nd quarter worth approximately $64,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Globe Life by 22.0% during the 1st quarter. CSat Investment Advisory L.P. now owns 844 shares of the company’s stock worth $82,000 after acquiring an additional 152 shares in the last quarter. 73.93% of the stock is currently owned by institutional investors.

Shares of Globe Life stock opened at $94.00 on Thursday. The business has a 50 day moving average price of $93.25 and a 200 day moving average price of $97.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $9.56 billion, a P/E ratio of 12.86 and a beta of 1.15. Globe Life Inc. has a 1 year low of $77.71 and a 1 year high of $108.22.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Tuesday, July 20th. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.03. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Globe Life had a return on equity of 8.66% and a net margin of 15.55%. Globe Life’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 4th will be issued a $0.1975 dividend. The ex-dividend date of this dividend is Friday, October 1st. This represents a $0.79 annualized dividend and a yield of 0.84%.

In other news, insider Steven John Dichiaro sold 617 shares of the company’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $93.96, for a total transaction of $57,973.32. Following the completion of the sale, the insider now directly owns 17,356 shares in the company, valued at approximately $1,630,769.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Ingram sold 1,350 shares of the company’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $97.38, for a total value of $131,463.00. The disclosure for this sale can be found here. Insiders sold a total of 8,350 shares of company stock valued at $785,545 over the last quarter. 4.30% of the stock is currently owned by insiders.

GL has been the topic of several research analyst reports. Zacks Investment Research lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler cut their price objective on Globe Life from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, July 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Hold” and an average price target of $109.60.

Globe Life Company Profile

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

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

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