Campbell Deegan Wealth Management LLC Makes New $246,000 Investment in Globe Life Inc. (NYSE:GL)

Campbell Deegan Wealth Management LLC bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,208 shares of the company's stock, valued at approximately $246,000.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. bought a new position in Globe Life in the fourth quarter worth approximately $28,000. Avalon Trust Co bought a new position in Globe Life in the fourth quarter worth approximately $41,000. EverSource Wealth Advisors LLC grew its stake in 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 purchasing an additional 90 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Globe Life in the fourth quarter worth approximately $45,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Globe Life in the fourth quarter worth approximately $68,000. Institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

GL has been the topic of several recent research reports. Piper Sandler dropped their target price on 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 dropped their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased 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. Finally, Morgan Stanley increased their target price on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given 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 $137.73.

Insider Activity

In related news, CEO Frank M. Svoboda sold 6,019 shares of the 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 completion of the transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.51% of the company's stock.

Globe Life Stock Up 0.8%

Shares of GL stock traded up $0.92 on Friday, reaching $121.89. 616,736 shares of the stock were exchanged, compared to its average volume of 786,863. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business's 50 day moving average price is $122.02 and its 200 day moving average price is $118.64. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 10.20 and a beta of 0.56. Globe Life Inc. has a twelve month low of $76.55 and a twelve month high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $2.78 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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

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.