111 Capital purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,174 shares of the company's stock, valued at approximately $242,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in shares of Globe Life during the fourth quarter valued at $28,000. Avalon Trust Co purchased a new position in Globe Life during the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 90 shares in the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Globe Life in the 4th quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Globe Life in the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 81.61% of the company's stock.
Insider Transactions at Globe Life
In related news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now owns 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.51% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently commented on GL. Piper Sandler lowered their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lowered their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and a consensus target price of $137.73.
Read Our Latest Stock Report on Globe Life
Globe Life Price Performance
GL stock traded down $2.47 during trading on Wednesday, hitting $120.33. The company had a trading volume of 424,446 shares, compared to its average volume of 776,790. The company has a fifty day moving average price of $121.49 and a two-hundred day moving average price of $118.77. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The company has a market cap of $9.93 billion, a P/E ratio of 10.07 and a beta of 0.56. 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 issued its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business posted $2.78 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. Globe Life's dividend payout ratio (DPR) is presently 8.79%.
Globe Life Profile
(
Free Report)
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.
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