Machina Capital S.A.S. Has $523,000 Stock Holdings in Globe Life Inc. (NYSE:GL)

Machina Capital S.A.S. cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 29.9% in the fourth quarter, HoldingsChannel reports. The fund owned 4,298 shares of the company’s stock after selling 1,833 shares during the quarter. Machina Capital S.A.S.’s holdings in Globe Life were worth $523,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after purchasing an additional 304,942 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Globe Life by 141.4% during the third quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after buying an additional 273,515 shares during the last quarter. Vanguard Group Inc. raised its holdings in Globe Life by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after buying an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after buying an additional 168,127 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Globe Life by 200.8% during the 3rd quarter. Stifel Financial Corp now owns 232,329 shares of the company’s stock valued at $25,261,000 after acquiring an additional 155,090 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

GL traded up $3.29 during trading on Monday, reaching $80.84. 2,315,129 shares of the company’s stock were exchanged, compared to its average volume of 2,196,489. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market capitalization of $7.60 billion, a P/E ratio of 7.73 and a beta of 0.78. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $101.82 and a 200 day moving average price of $114.04.

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 during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 EPS. As a group, analysts predict that Globe Life Inc. will post 11.72 earnings per share 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. Stockholders of record on Friday, July 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.19%. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Evercore ISI lowered their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Five research 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 company. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

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.