Canvas Wealth Advisors LLC Sells 3,110 Shares of Globe Life Inc. (NYSE:GL)

Canvas Wealth Advisors LLC cut its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 32.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,486 shares of the company's stock after selling 3,110 shares during the period. Canvas Wealth Advisors LLC's holdings in Globe Life were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Diversified Trust Co grew its stake in Globe Life by 8.0% in the first quarter. Diversified Trust Co now owns 3,451 shares of the company's stock worth $455,000 after purchasing an additional 257 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Globe Life by 5.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 15,863 shares of the company's stock worth $2,089,000 after purchasing an additional 838 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Globe Life by 693.4% in the 1st 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 in the last quarter. Golden State Equity Partners bought a new position in shares of Globe Life during the first quarter valued at $890,000. Finally, Lecap Asset Management Ltd. purchased a new stake in Globe Life during the 1st quarter valued at $2,233,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Trading Up 1.4%

GL opened at $123.16 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The stock's 50 day moving average price is $121.08 and its 200-day moving average price is $120.05. Globe Life Inc. has a one year low of $80.36 and a one year high of $133.76. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 10.02 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results 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). The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.78 earnings per share. On average, equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.

Analysts Set New Price Targets

GL has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler decreased their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley upped their price objective on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction that occurred 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 now directly owns 31,298 shares in the company, valued at $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by company insiders.

Globe Life Company 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.

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