Jacobs Levy Equity Management Inc. Has $84.17 Million Position in Globe Life Inc. (NYSE:GL)

Jacobs Levy Equity Management Inc. boosted its position in Globe Life Inc. (NYSE:GL) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 754,731 shares of the company’s stock after buying an additional 94,533 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.90% of Globe Life worth $84,168,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Globe Life during the 4th quarter worth approximately $356,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globe Life by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after purchasing an additional 144 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $244,000. Finally, Kathmere Capital Management LLC bought a new position in shares of Globe Life in the fourth quarter valued at $217,000. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GL shares. JPMorgan Chase & Co. upped their price objective on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Piper Sandler dropped their price objective on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company dropped their target price on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.00.

Globe Life Trading Up 0.6 %

Shares of Globe Life stock opened at $121.97 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56. The firm’s 50-day moving average price is $123.62 and its two-hundred day moving average price is $117.17.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $2.78 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life’s dividend payout ratio (DPR) is currently 8.79%.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

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.