Globe Life Inc. (NYSE:GL) Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,877 shares of the company's stock after selling 19,176 shares during the quarter. Algert Global LLC owned approximately 0.10% of Globe Life worth $9,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. Versant Capital Management Inc boosted its stake in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT purchased a new position in Globe Life during the fourth quarter valued at $28,000. Rakuten Securities Inc. bought a new stake in Globe Life in the 4th quarter valued at $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated 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 directly owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value 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 approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GL. Morgan Stanley reduced their price objective on Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Piper Sandler dropped their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.00.

Globe Life Stock Up 0.5 %

Shares of Globe Life stock traded up $0.65 on Wednesday, reaching $120.99. The stock had a trading volume of 735,843 shares, compared to its average volume of 900,288. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.07 billion, a P/E ratio of 10.12 and a beta of 0.56. The company has a 50 day moving average price of $123.93 and a 200 day moving average price of $116.95. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76.

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

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

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.