Atlas Capital Advisors Inc. Takes $893,000 Position in Globe Life Inc. (NYSE:GL)

Key Points

• Atlas Capital Advisors Inc. acquired 6,778 shares of Globe Life Inc. during the first quarter, valued at approximately $893,000.
• Multiple institutional investors have increased their stakes in Globe Life, with Sequoia Financial Advisors LLC raising its holdings by 693.4% to 24,184 shares valued at $3.18 million.
• Globe Life recently announced a quarterly dividend of $0.27, with an annualized dividend yield of 0.8%, payable on October 31st.

Atlas Capital Advisors Inc. acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,778 shares of the company's stock, valued at approximately $893,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Globe Life by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock valued at $177,615,000 after acquiring an additional 118,054 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Globe Life by 58.6% during the 4th quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock valued at $102,376,000 after acquiring an additional 339,162 shares in the last quarter. Northern Trust Corp boosted its position in Globe Life by 3.3% during the 4th quarter. Northern Trust Corp now owns 817,489 shares of the company's stock valued at $91,166,000 after acquiring an additional 26,398 shares in the last quarter. GAMMA Investing LLC boosted its position in Globe Life by 15,553.5% during the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after acquiring an additional 776,895 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Globe Life by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock valued at $102,927,000 after acquiring an additional 3,312 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the sale, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,741 shares of company stock valued at $12,471,180 in the last 90 days. Corporate insiders own 1.51% of the company's stock.

Globe Life Price Performance

Shares of NYSE:GL traded down $0.48 during trading on Thursday, reaching $138.52. 671,035 shares of the company's stock traded hands, compared to its average volume of 810,178. Globe Life Inc. has a fifty-two week low of $95.09 and a fifty-two week high of $144.00. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The firm has a market cap of $11.22 billion, a PE ratio of 11.07 and a beta of 0.56. The company has a 50-day simple moving average of $126.70 and a 200-day simple moving average of $124.21.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the firm earned $2.97 EPS. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts predict 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, October 31st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life's payout ratio is 8.63%.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company raised their price objective on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Morgan Stanley raised Globe Life from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $135.00 to $166.00 in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Truist Financial initiated coverage on Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.00.

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.