Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Globe Life Inc. (NYSE:GL)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,000 shares of the company's stock, valued at approximately $2,239,000.

A number of other institutional investors also recently modified their holdings of GL. Rakuten Securities Inc. purchased a new position in shares of Globe Life during the 4th quarter valued at about $28,000. Avalon Trust Co purchased a new stake in Globe Life in the fourth quarter worth $41,000. EverSource Wealth Advisors LLC grew its stake in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after acquiring an additional 90 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Globe Life in the fourth quarter worth $45,000. Finally, Versant Capital Management Inc grew its stake in shares of Globe Life by 140.2% in the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after acquiring an additional 342 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now owns 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.51% of the stock is currently owned by company insiders.

Globe Life Price Performance

GL stock traded down $0.33 on Wednesday, reaching $119.76. The company had a trading volume of 403,627 shares, compared to its average volume of 756,788. Globe Life Inc. has a 1 year low of $76.55 and a 1 year 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 company's fifty day moving average is $120.65 and its 200 day moving average is $119.14. The company has a market cap of $9.89 billion, a P/E ratio of 10.02 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.

Analysts Set New Price Targets

Several research firms have recently commented on GL. 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 note on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Piper Sandler lowered 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. Morgan Stanley upped their price objective on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.73.

Globe Life 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.