Pzena Investment Management LLC Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Pzena Investment Management LLC lessened its stake in shares of Globe Life Inc. (NYSE:GLFree Report) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 478,750 shares of the company’s stock after selling 2,729 shares during the quarter. Pzena Investment Management LLC’s holdings in Globe Life were worth $58,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new position in Globe Life in the fourth quarter valued at about $27,000. Private Trust Co. NA lifted its stake in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Globe Life in the fourth quarter worth approximately $28,000. Lindbrook Capital LLC boosted its holdings in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and cut their price target for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Piper Sandler cut their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Five research 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 stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Read Our Latest Report on Globe Life

Globe Life Price Performance

GL traded up $1.89 on Wednesday, hitting $85.22. 1,294,111 shares of the company’s stock traded hands, compared to its average volume of 2,190,186. Globe Life Inc. has a one year low of $38.95 and a one year 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 0.32. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 7.96 and a beta of 0.78. The company’s 50 day simple moving average is $92.09 and its 200-day simple moving average is $111.69.

Globe Life (NYSE:GLGet Free Report) last released its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company 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 23.01% and a net margin of 18.07%. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $2.53 EPS. As a group, research analysts anticipate that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.13%. Globe Life’s payout ratio is 9.17%.

Insider Activity

In other news, CEO James Matthew Darden acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average cost of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden acquired 2,000 shares of Globe Life stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the purchase, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The disclosure for this purchase can be found here. Insiders bought a total of 4,000 shares of company stock worth $331,435 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Globe Life Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GLFree Report).

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

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.