Sumitomo Mitsui DS Asset Management Company Ltd Has $1.78 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Globe Life Inc. (NYSE:GL) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,607 shares of the company’s stock after selling 371 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Globe Life were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Private Trust Co. NA increased its position in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Globe Life in the 4th quarter valued at about $28,000. Lindbrook Capital LLC increased its position in Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Globe Life in the 3rd quarter valued at about $61,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Globe Life in the 4th quarter valued at about $63,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $130.00 to $110.00 in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Piper Sandler reduced their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Truist Financial reduced their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Stock Performance

Shares of GL opened at $78.60 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $108.65 and its 200-day moving average price is $115.82. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $7.39 billion, a P/E ratio of 7.51 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm 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 23.91% and a net margin of 18.07%. Globe Life’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Equities research analysts anticipate that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.22%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

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.