Cetera Investment Advisers purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,341 shares of the company's stock, valued at approximately $967,000.
Several other large investors also recently modified their holdings of GL. Bessemer Group Inc. grew its stake in Globe Life by 3.8% in the 4th quarter. Bessemer Group Inc. now owns 11,774 shares of the company's stock valued at $1,313,000 after buying an additional 430 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Globe Life by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 39,048 shares of the company's stock valued at $4,355,000 after buying an additional 250 shares in the last quarter. Barclays PLC grew its stake in Globe Life by 16.1% in the 4th quarter. Barclays PLC now owns 287,993 shares of the company's stock valued at $32,116,000 after buying an additional 39,846 shares in the last quarter. Mariner LLC grew its stake in Globe Life by 9.5% in the 4th quarter. Mariner LLC now owns 31,355 shares of the company's stock valued at $3,497,000 after buying an additional 2,733 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Globe Life in the 4th quarter valued at approximately $120,000. Hedge funds and other institutional investors own 81.61% of the company's stock.
Analyst Upgrades and Downgrades
GL has been the subject of a number of recent research reports. Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. BMO Capital Markets restated a "market perform" rating and set a $149.00 price target (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Morgan Stanley upgraded shares of Globe Life from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $135.00 to $166.00 in a research report on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $152.00.
Read Our Latest Stock Analysis on GL
Globe Life Price Performance
Shares of NYSE GL traded down $0.48 during mid-day trading on Thursday, reaching $138.52. 671,035 shares of the company were exchanged, compared to its average volume of 810,178. Globe Life Inc. has a 52 week low of $95.09 and a 52 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 stock has a market capitalization of $11.22 billion, a PE ratio of 10.72 and a beta of 0.56. The company's 50 day moving average price is $126.33 and its 200 day moving average price is $124.09.
Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 earnings per share. Sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's payout ratio is currently 8.63%.
Insider Buying and Selling at Globe Life
In other news, CEO Frank M. Svoboda sold 12,500 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the transaction, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,741 shares of company stock valued at $12,471,180. Company insiders own 1.51% of the company's stock.
Globe Life Company Profile
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Free Report)
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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