Mitsubishi UFJ Asset Management Co. Ltd. Has $11.82 Million Holdings in Globe Life Inc. (NYSE:GL)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,607 shares of the company's stock after acquiring an additional 7,100 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Globe Life worth $11,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its holdings in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock worth $29,000 after buying an additional 92 shares in the last quarter. Stonegate Investment Group LLC grew its stake in Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company's stock worth $4,153,000 after buying an additional 116 shares during the period. Tectonic Advisors LLC grew its stake in Globe Life by 5.3% during the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company's stock worth $360,000 after buying an additional 150 shares during the period. NBC Securities Inc. grew its stake in Globe Life by 2.7% during the first quarter. NBC Securities Inc. now owns 5,803 shares of the company's stock worth $675,000 after buying an additional 153 shares during the period. Finally, Private Trust Co. NA grew its stake 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 buying an additional 162 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GL shares. Raymond James reiterated a "strong-buy" rating on shares of Globe Life in a research note on Tuesday, May 21st. 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 research report on Friday, June 28th. Truist Financial reduced their target price 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. Evercore ISI boosted their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 26th. Finally, Morgan Stanley boosted their target price on shares of Globe Life from $62.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Globe Life has a consensus rating of "Moderate Buy" and an average price target of $104.22.

Globe Life Stock Performance

Shares of GL traded up $0.06 during midday trading on Friday, hitting $88.26. 639,441 shares of the stock traded hands, compared to its average volume of 1,047,083. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The business's 50 day moving average price is $83.29 and its two-hundred day moving average price is $100.39. The firm has a market capitalization of $7.95 billion, a PE ratio of 8.43 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last issued 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). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. Equities research analysts predict that Globe Life Inc. will post 11.75 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.09%. Globe Life's dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling at Globe Life

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

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.