O Shaughnessy Asset Management LLC Lowers Holdings in Globe Life Inc. (NYSE:GL)

O Shaughnessy Asset Management LLC trimmed its stake in Globe Life Inc. (NYSE:GL) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,648 shares of the company’s stock after selling 1,068 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Globe Life were worth $4,963,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in shares of Globe Life in the 1st quarter worth $233,000. Vanguard Group Inc. increased its position in Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after buying an additional 425,993 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Globe Life by 15.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 73,355 shares of the company’s stock valued at $8,508,000 after buying an additional 9,810 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Globe Life during the 1st quarter valued at about $22,290,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after buying an additional 7,100 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of NYSE:GL traded up $0.55 during trading on Tuesday, hitting $89.53. The stock had a trading volume of 578,537 shares, compared to its average volume of 1,964,025. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 8.55 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $83.37 and a two-hundred day simple moving average of $100.00.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $2.53 earnings per share. On average, equities research analysts expect that Globe Life Inc. will post 11.75 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, July 5th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling

In related news, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. Insiders have purchased a total of 6,500 shares of company stock valued at $536,860 over the last ninety days. Company insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Truist Financial reduced their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI upped their target price on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Finally, Piper Sandler cut their price objective on Globe Life from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.22.

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.