14,691 Shares in Globe Life Inc. (NYSE:GL) Purchased by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,691 shares of the company’s stock, valued at approximately $1,788,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA boosted its position in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Globe Life during the fourth quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in Globe Life during the first quarter worth about $29,000. AM Squared Ltd purchased a new position in Globe Life during the first quarter worth about $44,000. Finally, First Command Advisory Services Inc. purchased a new position in Globe Life during the third quarter worth about $61,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of GL opened at $65.54 on Friday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s 50 day moving average price is $112.97 and its 200 day moving average price is $116.83. The company has a market cap of $6.16 billion, a P/E 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 (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business posted $2.24 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is 9.52%.

Analyst Ratings Changes

A number of brokerages have commented on GL. JPMorgan Chase & Co. lifted 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. Truist Financial reissued a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Keefe, Bruyette & Woods reduced their price target on shares of 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 raised shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Piper Sandler reduced their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

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.