10,711 Shares in Globe Life Inc. (NYSE:GL) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,711 shares of the company's stock, valued at approximately $1,194,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GL. Albion Financial Group UT purchased a new position in shares of Globe Life in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Globe Life during the 4th quarter worth $28,000. Avalon Trust Co bought a new stake in shares of Globe Life during the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC increased its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in Globe Life in the 4th quarter worth $45,000. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Performance

Shares of NYSE GL opened at $121.97 on Friday. The company has a market cap of $10.15 billion, a P/E ratio of 10.21 and a beta of 0.56. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm's fifty day moving average is $123.62 and its two-hundred day moving average is $117.13.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Globe Life's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.78 earnings per share. As a group, analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GL shares. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Morgan Stanley decreased their price objective on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Finally, Piper Sandler lowered their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.00.

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.

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