Cerity Partners LLC Has $5.56 Million Stock Position in Globe Life Inc. (NYSE:GL)

Cerity Partners LLC increased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,174 shares of the company's stock after buying an additional 6,339 shares during the quarter. Cerity Partners LLC owned about 0.05% of Globe Life worth $5,555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after acquiring an additional 90 shares in the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Globe Life during the 4th quarter worth $45,000. Allworth Financial LP boosted its stake in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after acquiring an additional 103 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after acquiring an additional 342 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Globe Life during the 4th quarter worth $68,000. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of Globe Life stock traded up $1.82 during trading on Thursday, reaching $121.72. The company's stock had a trading volume of 541,823 shares, compared to its average volume of 702,244. 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 business's fifty day moving average price is $120.86 and its 200-day moving average price is $121.35. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 9.46 and a beta of 0.56. Globe Life Inc. has a one year low of $86.10 and a one year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.78 earnings per share. As a group, equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. The ex-dividend date 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 presently 8.79%.

Analyst Upgrades and Downgrades

GL has been the subject of several research reports. Piper Sandler reduced their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Truist Financial initiated coverage on Globe Life in a research note on Tuesday. They set a "buy" rating and a $150.00 price objective for the company. Morgan Stanley set a $127.00 price objective on Globe Life and gave the stock an "equal weight" rating in a research note on Monday. Finally, Wells Fargo & Company raised their price objective on Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $143.82.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life 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 directly owned 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents 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 hyperlink. Insiders own 1.51% of the company's stock.

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.