Strs Ohio Invests $4.24 Million in Globe Life Inc. (NYSE:GL)

Strs Ohio bought a new position in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,807 shares of the company’s stock, valued at approximately $4,236,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA lifted 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 worth $27,000 after purchasing an additional 162 shares during the period. BKM Wealth Management LLC bought a new position in Globe Life in the fourth quarter worth $28,000. Sunbelt Securities Inc. bought a new position in Globe Life in the first quarter worth $29,000. AM Squared Ltd bought a new position in Globe Life in the first quarter worth $44,000. Finally, Bruce G. Allen Investments LLC bought a new position in Globe Life in the fourth quarter worth $63,000. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Globe Life stock opened at $64.99 on Friday. The stock has a 50-day simple moving average of $112.97 and a 200 day simple moving average of $116.83. 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 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 6.45 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business posted $2.24 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that Globe Life Inc. will post 11.6 earnings per share 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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

GL has been the subject of several research reports. Piper Sandler reduced their target price on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Keefe, Bruyette & Woods cut their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. StockNews.com raised Globe Life from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company cut their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. 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 company’s stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target 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.