Jacobs Levy Equity Management Inc. Has $84.17 Million Stake in Globe Life Inc. (NYSE:GL)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 754,731 shares of the company’s stock after acquiring an additional 94,533 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Globe Life were worth $84,168,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in Globe Life in the fourth quarter worth approximately $28,000. Albion Financial Group UT acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $28,000. Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its position in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the period. Finally, Platinum Investment Management Ltd. bought a new position in Globe Life during the fourth quarter worth $45,000. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 0.6 %

Shares of GL stock opened at $121.97 on Friday. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The company has a 50-day simple moving average of $123.62 and a two-hundred day simple moving average of $117.17. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.78 earnings per share. Research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Insider Activity

In related news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Wells Fargo & Company cut their target price on Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price target on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

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.