Amalgamated Bank Has $3.40 Million Stock Position in Globe Life Inc. (NYSE:GL)

Amalgamated Bank cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,924 shares of the company’s stock after selling 3,036 shares during the period. Amalgamated Bank’s holdings in Globe Life were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GL. Pacer Advisors Inc. grew its position in shares of Globe Life by 488.6% in the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after purchasing an additional 27,908 shares during the period. Arizona State Retirement System boosted its holdings in shares of Globe Life by 5.2% in the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after buying an additional 1,295 shares during the period. AIA Group Ltd acquired a new stake in shares of Globe Life during the fourth quarter worth $1,788,000. Retirement Systems of Alabama bought a new stake in Globe Life in the 4th quarter valued at $2,297,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Globe Life by 6.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock worth $31,840,000 after purchasing an additional 15,329 shares during the period. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Finally, Truist Financial cut their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Five equities 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.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Trading Down 2.9 %

Shares of NYSE:GL opened at $86.92 on Friday. The company has a 50-day simple moving average of $98.46 and a 200 day simple moving average of $113.28. The company has a market capitalization of $8.17 billion, a P/E ratio of 8.30 and a beta of 0.78. 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 Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last posted 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 for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 earnings per share. Sell-side analysts forecast that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, July 3rd. Globe Life’s payout ratio is 9.17%.

Insider Transactions at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’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 transaction of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

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.