GAMMA Investing LLC increased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 15,553.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 781,890 shares of the company's stock after buying an additional 776,895 shares during the period. GAMMA Investing LLC owned about 0.94% of Globe Life worth $102,991,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Rakuten Securities Inc. purchased a new stake in Globe Life during the 4th quarter worth $28,000. Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter worth about $41,000. EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Globe Life in the 4th quarter worth about $45,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Globe Life in the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 81.61% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on GL shares. Wells Fargo & Company decreased their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley upped their price target on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler reduced their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $137.73.
Read Our Latest Research Report on GL
Globe Life Price Performance
Shares of NYSE GL traded down $0.25 during midday trading on Thursday, reaching $120.04. The company's stock had a trading volume of 92,911 shares, compared to its average volume of 774,100. 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 50 day moving average price of $121.49 and a 200 day moving average price of $118.77. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 10.04 and a beta of 0.56.
Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.
Globe Life Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio is 8.79%.
Insider Buying and Selling
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the transaction, the chief executive officer now owns 31,298 shares in the company, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.51% of the company's stock.
About Globe Life
(
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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