D. E. Shaw & Co. Inc. Reduces Position in Globe Life Inc. (NYSE:GL)

D. E. Shaw & Co. Inc. lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 22.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 679,779 shares of the company’s stock after selling 199,963 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Globe Life were worth $75,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Globe Life by 6.8% in the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after purchasing an additional 326,307 shares during the period. Invesco Ltd. lifted its holdings in shares of Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock worth $438,568,000 after buying an additional 223,282 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock valued at $177,615,000 after acquiring an additional 118,054 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Globe Life by 2.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company’s stock valued at $143,228,000 after acquiring an additional 36,051 shares in the last quarter. Finally, Nuance Investments LLC increased its holdings in Globe Life by 8.3% during the 4th quarter. Nuance Investments LLC now owns 1,234,069 shares of the company’s stock worth $137,623,000 after acquiring an additional 95,091 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The shares were 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. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GL shares. Wells Fargo & Company reduced their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley reduced their target price on Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lowered their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

Globe Life Trading Up 0.6 %

NYSE:GL opened at $121.97 on Friday. The firm has a market capitalization of $10.15 billion, a P/E ratio of 10.21 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $123.62 and a 200 day moving average of $117.13. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company posted $2.78 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. Globe Life’s dividend payout ratio (DPR) is presently 8.79%.

About Globe Life

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.