Xponance Inc. Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Xponance Inc. lessened its stake in Globe Life Inc. (NYSE:GL) by 12.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,059 shares of the company’s stock after selling 1,579 shares during the quarter. Xponance Inc.’s holdings in Globe Life were worth $1,346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of Globe Life by 11.4% during the 3rd quarter. CWM LLC now owns 1,527 shares of the company’s stock worth $166,000 after purchasing an additional 156 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Globe Life during the 3rd quarter worth approximately $625,000. Oak Thistle LLC acquired a new position in shares of Globe Life during the third quarter valued at approximately $1,191,000. Czech National Bank lifted its position in shares of Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after acquiring an additional 4,677 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Globe Life by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after acquiring an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $78.60 on Thursday. The company’s 50-day moving average is $108.65 and its two-hundred day moving average is $115.82. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 7.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 earnings per share. Analysts forecast that Globe Life Inc. will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Analysts Set New Price Targets

Several research firms recently commented on GL. Truist Financial reduced their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Piper Sandler reduced their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered 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 report on Wednesday. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $130.00 to $110.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Five investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

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.