Globe Life Inc. (NYSE:GL) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in shares of Globe Life Inc. (NYSE:GL) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,391 shares of the company’s stock after selling 3,940 shares during the period. Daiwa Securities Group Inc.’s holdings in Globe Life were worth $6,377,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Private Trust Co. NA grew its position in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Globe Life during the fourth quarter valued at about $28,000. Sunbelt Securities Inc. acquired a new stake in shares of Globe Life during the first quarter valued at about $29,000. AM Squared Ltd acquired a new position in shares of Globe Life in the first quarter worth about $44,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Globe Life during the third quarter worth approximately $61,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

GL opened at $64.99 on Friday. The business has a fifty day simple moving average of $112.97 and a 200-day simple moving average of $116.83. The firm has a market cap of $6.11 billion, a PE ratio of 6.45 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.15. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.24 EPS. As a group, equities analysts predict that Globe Life Inc. will post 11.6 EPS 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. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.48%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 10th. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Truist Financial restated a “hold” rating and issued a $125.00 target price on shares of Globe Life in a research report on Friday, April 12th. 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 research report on Thursday, February 8th. Finally, Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Company Profile

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.