32,966 Shares in Globe Life Inc. (NYSE:GL) Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,966 shares of the company's stock, valued at approximately $4,342,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Globe Life during the 4th quarter worth $61,238,000. Lighthouse Investment Partners LLC boosted its position in shares of Globe Life by 914.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock worth $14,304,000 after purchasing an additional 115,628 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Globe Life by 50.0% during the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock worth $9,069,000 after purchasing an additional 27,590 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Globe Life by 61.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after purchasing an additional 9,395 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in Globe Life by 76.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 91,682 shares of the company's stock valued at $10,224,000 after purchasing an additional 39,678 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions 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 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. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.51% of the company's stock.

Globe Life Stock Up 0.2%

Shares of NYSE:GL traded up $0.22 during midday trading on Thursday, reaching $119.63. 538,269 shares of the company were exchanged, compared to its average volume of 739,976. The firm has a market cap of $9.87 billion, a PE ratio of 9.73 and a beta of 0.56. Globe Life Inc. has a fifty-two week low of $80.01 and a fifty-two week high of $133.76. The stock has a fifty day simple moving average of $120.99 and a two-hundred day simple moving average of $119.50. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The business'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 earned $2.78 EPS. As a group, sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

About Globe Life

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.