Adage Capital Partners GP L.L.C. Has $3.73 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Adage Capital Partners GP L.L.C. cut its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 38.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,400 shares of the company's stock after selling 21,300 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Globe Life were worth $3,725,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GL. Versant Capital Management Inc boosted its stake in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company's stock valued at $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new position in Globe Life in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the fourth quarter worth $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the period. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

Wall Street Analyst Weigh In

GL has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. raised their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. Morgan Stanley decreased their price target on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Piper Sandler cut their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $137.09.

Globe Life Stock Up 3.4 %

Shares of NYSE:GL traded up $4.06 during trading on Friday, hitting $121.78. 793,105 shares of the company's stock traded hands, compared to its average volume of 922,503. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $124.02 and a 200-day moving average price of $116.75. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 10.19 and a beta of 0.60.

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

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 9.04%.

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.