State Of New Jersey Common Retirement Fund D reduced its position in Globe Life Inc. (NYSE:GL)

State of New Jersey Common Pension Fund D reduced its position in shares of Globe Life Inc. (NYSE:GL – Free Report) by 18.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,012 shares of the company’s stock after selling 8,281 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Globe Life were worth $3,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. raised its position in Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after purchasing an additional 153 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after buying an additional 167 shares during the period. Perigon Wealth Management LLC boosted its holdings in Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after buying an additional 184 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares during the period. Finally, SRN Advisors LLC boosted its holdings in Globe Life by 5.2% in the first quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock valued at $786,000 after buying an additional 332 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s shares.

The Wall Street analyst weighs in

Several analysts have issued reports on GL shares. Jefferies Financial Group upped their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Wells Fargo & Company upped their target price on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st . Raymond James restated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Truist Financial boosted their price objective on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $108.33, according to MarketBeat.com.

Check out our latest stock report on Globe Life

Insider buying and selling at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. 1.51% of shares are currently owned by company insiders.

Globe Life stock performance

NYSE GL opened at $106.19 on Wednesday. The stock has a market cap of $9.56 billion, a PE ratio of 10.14 and a beta of 0.81. The company has a 50 day simple moving average of $95.22 and a two hundred day simple moving average of $92.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05, and a quick ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $2.61. On average, research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a yield of 0.90%. The ex-dividend date of this dividend is Friday, October 4. Globe Life’s dividend payout ratio is currently 9.17%.

Globe Life Company Profile

(Free Report)

Globe Life Inc, through its subsidiaries, provides various supplemental life and health insurance and annuity products to middle and lower middle income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities and Investments.

Featured stories

Get news and reviews for Globe Life Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Globe Life and related companies with MarketBeat.com’s FREE daily email newsletter.