Kingsview Wealth Management LLC Takes $2.81 Million Position in Globe Life Inc. (NYSE:GL)

Kingsview Wealth Management LLC purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,325 shares of the company's stock, valued at approximately $2,809,000.

A number of other large investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock worth $13,393,000 after acquiring an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Globe Life during the first quarter worth $493,000. Sequoia Financial Advisors LLC grew its holdings in shares of Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after purchasing an additional 21,136 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after purchasing an additional 723 shares during the last quarter. Finally, Lighthouse Investment Partners LLC grew its holdings in shares of Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock worth $14,304,000 after purchasing an additional 115,628 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

NYSE:GL traded up $0.60 during trading hours on Friday, hitting $122.20. 591,766 shares of the company's stock traded hands, compared to its average volume of 701,085. The firm has a market cap of $10.09 billion, a P/E ratio of 9.94 and a beta of 0.56. Globe Life Inc. has a 52 week low of $86.10 and a 52 week high of $133.76. The business's fifty day simple moving average is $120.87 and its two-hundred day simple moving average is $121.58. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last posted 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). 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 21.44% and a net margin of 18.33%. Globe Life's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 earnings per share. On average, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is currently 8.79%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GL. Piper Sandler reduced their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Truist Financial started coverage on Globe Life in a report on Tuesday. They set a "buy" rating and a $150.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.82.

Insider Activity at Globe Life

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

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.