Globe Life Inc. (NYSE:GL) Shares Sold by Focus Partners Wealth

Focus Partners Wealth reduced its stake in Globe Life Inc. (NYSE:GL - Free Report) by 60.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,903 shares of the company's stock after selling 12,276 shares during the quarter. Focus Partners Wealth's holdings in Globe Life were worth $881,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Globe Life in the 4th quarter valued at $28,000. Albion Financial Group UT purchased a new stake in Globe Life in the 4th quarter valued at $28,000. Avalon Trust Co purchased a new stake in Globe Life in the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC grew its holdings in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares in the last quarter. Finally, Platinum Investment Management Ltd. purchased a new stake in Globe Life in the 4th quarter valued at $45,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Down 0.0%

GL traded down $0.05 during mid-day trading on Friday, hitting $119.51. 385,967 shares of the stock were exchanged, compared to its average volume of 827,437. The firm's fifty day moving average is $122.78 and its two-hundred day moving average is $118.17. Globe Life Inc. has a 1-year low of $76.55 and a 1-year high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.86 billion, a PE ratio of 10.00 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last posted its 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). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted $2.78 EPS. Globe Life's revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their price target on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company lowered their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Piper Sandler lowered their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the 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 $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is owned by corporate insiders.

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.