Contravisory Investment Management Inc. Has $888,000 Holdings in Globe Life Inc. (NYSE:GL)

Contravisory Investment Management Inc. boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 74,811.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,742 shares of the company's stock after purchasing an additional 6,733 shares during the period. Contravisory Investment Management Inc.'s holdings in Globe Life were worth $888,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock worth $570,661,000 after buying an additional 326,307 shares during the period. Invesco Ltd. grew its stake in shares of Globe Life by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock valued at $438,568,000 after purchasing an additional 223,282 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock valued at $177,615,000 after buying an additional 118,054 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Globe Life by 2.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock valued at $143,228,000 after buying an additional 36,051 shares during the last quarter. Finally, Nuance Investments LLC raised its holdings in Globe Life by 8.3% during the 4th quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after purchasing an additional 95,091 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Performance

Shares of GL stock traded down $0.61 on Thursday, hitting $119.69. The company's stock had a trading volume of 487,133 shares, compared to its average volume of 775,635. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock's 50 day moving average is $121.49 and its 200-day moving average is $118.77. The company has a market capitalization of $9.88 billion, a PE ratio of 10.02 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. 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 business posted $2.78 earnings per share. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.90%. Globe Life's dividend payout ratio is presently 8.79%.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley raised their target price on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Piper Sandler decreased their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus price target of $137.73.

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.