Principal Financial Group Inc. Has $11.15 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Principal Financial Group Inc. boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,315 shares of the company's stock after acquiring an additional 8,663 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Globe Life worth $11,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock valued at $276,994,000 after purchasing an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock worth $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Millennium Management LLC lifted its position in shares of Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC boosted its holdings in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock worth $120,629,000 after purchasing an additional 693,346 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GL. Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Piper Sandler upped their target price on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus target price of $127.10.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company's stock.

Globe Life Stock Performance

Shares of NYSE:GL traded up $0.45 on Monday, hitting $109.95. 657,621 shares of the company were exchanged, compared to its average volume of 1,439,125. The company's 50 day moving average price is $108.16 and its two-hundred day moving average price is $100.07. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 9.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Globe Life's dividend payout ratio (DPR) is presently 8.12%.

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.