12,818 Shares in Globe Life Inc. (NYSE:GL) Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,818 shares of the company's stock, valued at approximately $1,429,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Globe Life during the 4th quarter worth approximately $112,454,000. Raymond James Financial Inc. acquired a new position in shares of Globe Life during the 4th quarter valued at $61,238,000. Swedbank AB bought a new position in Globe Life during the fourth quarter worth $52,414,000. Freestone Grove Partners LP acquired a new stake in Globe Life in the fourth quarter worth $52,178,000. Finally, Marshall Wace LLP grew its holdings in Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock worth $54,053,000 after purchasing an additional 457,802 shares during the period. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the 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 completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chief executive officer now owns 38,973 shares in the company, 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. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

GL has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company reduced their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.00.

Globe Life Stock Up 0.6 %

Shares of GL traded up $0.74 during trading hours on Friday, reaching $121.97. 436,110 shares of the stock traded hands, compared to its average volume of 875,882. 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 $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56. The stock has a fifty day simple moving average of $123.62 and a 200 day simple moving average of $117.17. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business 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 previous year, the firm earned $2.78 EPS. On average, equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared 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 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.