Cobblestone Capital Advisors LLC NY Has $2.94 Million Holdings in Globe Life Inc. (NYSE:GL)

Key Points

• Cobblestone Capital Advisors LLC NY significantly increased its stake in Globe Life Inc., purchasing 20,333 shares during the first quarter to own a total of 22,333 shares, valued at approximately $2.94 million.
• Globe Life recently reported an EPS of $3.27 for the last quarter, exceeding analysts' expectations, with a revenue of $1.48 billion.
• The firm announced a quarterly dividend of $0.27 per share, expected to be paid on October 31st, with an annualized dividend yield of 0.8%.

Cobblestone Capital Advisors LLC NY grew its position in Globe Life Inc. (NYSE:GL - Free Report) by 1,016.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,333 shares of the company's stock after acquiring an additional 20,333 shares during the quarter. Cobblestone Capital Advisors LLC NY's holdings in Globe Life were worth $2,942,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allworth Financial LP increased its position in shares of Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after buying an additional 103 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after purchasing an additional 342 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Globe Life during the 4th quarter valued at about $68,000. Blue Trust Inc. raised its holdings in shares of Globe Life by 42.4% during the 1st quarter. Blue Trust Inc. now owns 772 shares of the company's stock valued at $102,000 after buying an additional 230 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in Globe Life by 56.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 970 shares of the company's stock worth $128,000 after purchasing an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares in the company, valued at $6,758,076.78. This represents a 40.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,741 shares of company stock valued at $12,471,180. 1.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GL has been the subject of several research reports. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Piper Sandler lowered 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. BMO Capital Markets restated a "market perform" rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price objective on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company upped their price objective on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.00.

Globe Life Trading Down 0.6%

Shares of Globe Life stock traded down $0.81 on Wednesday, reaching $138.93. 49,002 shares of the company were exchanged, compared to its average volume of 656,083. The stock has a fifty day moving average price of $125.96 and a 200-day moving average price of $123.99. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 11.10 and a beta of 0.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a fifty-two week low of $93.09 and a fifty-two week high of $144.00.

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, beating the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. Globe Life's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 earnings per share. On average, analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio is presently 8.63%.

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.