Public Employees Retirement System of Ohio Has $3.42 Million Stake in Globe Life Inc. (NYSE:GL)

Public Employees Retirement System of Ohio lowered its holdings in shares of Globe Life Inc. (NYSE:GL) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,249 shares of the company’s stock after selling 3,109 shares during the period. Public Employees Retirement System of Ohio’s holdings in Globe Life were worth $3,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after buying an additional 97 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after acquiring an additional 136 shares during the period. Fiduciary Trust Co boosted its stake in shares of Globe Life by 2.3% in the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after purchasing an additional 144 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after purchasing an additional 166 shares in the last quarter. Finally, TrueWealth Advisors LLC lifted its holdings in Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock valued at $1,392,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GL. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Raymond James increased their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.10.

Globe Life Stock Up 1.3 %

Shares of NYSE:GL opened at $106.76 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 9.03 and a beta of 0.81. The company has a 50 day moving average of $108.13 and a 200-day moving average of $98.38. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Globe Life 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.