New York State Common Retirement Fund Has $30.32 Million Stake in Globe Life Inc. (NYSE:GL)

New York State Common Retirement Fund trimmed its holdings in Globe Life Inc. (NYSE:GL) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,065 shares of the company’s stock after selling 32,499 shares during the period. New York State Common Retirement Fund owned 0.26% of Globe Life worth $30,316,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of 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 buying an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Globe Life during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC increased its stake in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Globe Life during the fourth quarter worth approximately $63,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Globe Life during the third quarter worth approximately $61,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Trading Down 3.9 %

Shares of GL stock opened at $75.54 on Friday. The stock’s fifty day moving average price is $107.65 and its two-hundred day moving average price is $115.54. The company has a market cap of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its earnings results 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 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 for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 EPS. Equities analysts predict that Globe Life Inc. will post 11.68 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GL. Truist Financial lowered their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Evercore ISI lowered their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday. Wells Fargo & Company lowered their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. 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 company’s stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $114.33.

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.