Polar Capital Holdings Plc Purchases 35,121 Shares of Globe Life Inc. (NYSE:GL)

Polar Capital Holdings Plc increased its position in Globe Life Inc. (NYSE:GL) by 30.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 148,677 shares of the company’s stock after buying an additional 35,121 shares during the period. Polar Capital Holdings Plc’s holdings in Globe Life were worth $16,580,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Globe Life during the 4th quarter valued at about $28,000. Albion Financial Group UT bought a new position in shares of Globe Life during the 4th quarter valued at about $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 90 shares during the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in shares of Globe Life during the 4th quarter valued at about $45,000. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GL shares. BMO Capital Markets started coverage on shares of 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 decreased their target price on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Piper Sandler decreased 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 report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.00.

Globe Life Stock Performance

Globe Life stock opened at $120.73 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $76.55 and a 1-year high of $133.76. The firm has a market capitalization of $9.97 billion, a P/E ratio of 10.10 and a beta of 0.56. The company’s 50-day moving average is $123.26 and its 200 day moving average is $117.47.

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

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given 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 dividend payout ratio (DPR) is currently 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.