Globe Life Inc. (NYSE:GL) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,979 shares of the company's stock after selling 18,412 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Globe Life were worth $3,954,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Private Trust Co. NA raised its stake in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company's stock valued at $27,000 after purchasing an additional 162 shares during the period. Private Wealth Management Group LLC bought a new stake in Globe Life in the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in Globe Life during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC grew its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company's stock valued at $34,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

In other news, EVP Robert Edward Hensley bought 2,500 shares of the company's stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the purchase, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares of the company's stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders have acquired 6,500 shares of company stock valued at $536,860 over the last ninety days. 1.51% of the stock is owned by insiders.

Globe Life Trading Down 0.7 %

GL stock traded down $0.59 during mid-day trading on Monday, reaching $80.89. The company's stock had a trading volume of 661,838 shares, compared to its average volume of 2,060,739. The business's 50 day moving average price is $82.58 and its 200 day moving average price is $102.48. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 7.73 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. Globe Life's revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.19%. Globe Life's dividend payout ratio is currently 9.17%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial dropped their target price on Globe Life from $125.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company cut their price objective on Globe Life from $132.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, June 28th. StockNews.com cut shares of Globe Life from a "buy" rating to a "hold" rating in a research note on Saturday, April 20th. Finally, Keefe, Bruyette & Woods upgraded shares of Globe Life from a "market perform" rating to an "outperform" rating and lowered their price objective for the stock from $130.00 to $110.00 in a research note 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.67.

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.