Man Group plc grew its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 100.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,728 shares of the company's stock after purchasing an additional 37,922 shares during the quarter. Man Group plc owned about 0.09% of Globe Life worth $8,445,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Albion Financial Group UT bought a new position in Globe Life in the fourth quarter valued at about $28,000. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the fourth quarter worth about $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares in the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in Globe Life in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.61% of the company's stock.
Insiders Place Their Bets
In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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. Company insiders own 1.51% of the company's stock.
Globe Life Trading Down 0.0%
Shares of GL traded down $0.05 during mid-day trading on Friday, hitting $119.51. 385,967 shares of the company's stock traded hands, compared to its average volume of 827,437. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76. The firm has a market capitalization of $9.86 billion, a P/E ratio of 10.00 and a beta of 0.56. The business's 50-day moving average price is $122.78 and its 200-day moving average price is $118.24.
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 net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the firm posted $2.78 earnings per share. Globe Life's quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.
Globe Life Announces Dividend
The company also recently announced 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. 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%.
Analysts Set New Price Targets
GL has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted 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. Morgan Stanley upped 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. Piper Sandler lowered their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and an average target price of $137.73.
Check Out Our Latest Stock Analysis on GL
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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