4,004 Shares in Globe Life Inc. (NYSE:GL) Purchased by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,004 shares of the company's stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Globe Life by 4.1% in the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock worth $13,393,000 after buying an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Globe Life during the first quarter worth about $493,000. Sequoia Financial Advisors LLC increased its position 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 valued at $3,185,000 after acquiring an additional 21,136 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $1,260,000 after acquiring an additional 723 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its position 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 valued at $14,304,000 after acquiring an additional 115,628 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday. They issued a "buy" rating and a $150.00 price objective for the company. Finally, Morgan Stanley set a $127.00 target price on Globe Life and gave the company an "equal weight" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.82.

Globe Life Price Performance

Globe Life stock traded up $1.82 during midday trading on Thursday, reaching $121.72. 541,823 shares of the stock traded hands, compared to its average volume of 702,244. The stock has a market cap of $10.05 billion, a P/E ratio of 9.90 and a beta of 0.56. Globe Life Inc. has a 12 month low of $86.10 and a 12 month high of $133.76. The stock's fifty day moving average is $120.87 and its 200-day moving average is $121.43. 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 released 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). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the business earned $2.78 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. Globe Life's dividend payout ratio (DPR) is 8.79%.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the sale, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is currently owned by company insiders.

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.