Globe Life Inc. (NYSE:GL) Shares Acquired by Cwm LLC

Cwm LLC boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,695 shares of the company's stock after purchasing an additional 5,519 shares during the period. Cwm LLC's holdings in Globe Life were worth $2,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. EverSource Wealth Advisors LLC grew its stake 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 during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Globe Life in the 4th quarter worth $68,000. Lee Danner & Bass Inc. acquired a new stake in Globe Life in the 4th quarter worth $70,000. Allworth Financial LP grew its position in Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after acquiring an additional 342 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the sale, the chief executive officer directly owned 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.51% of the company's stock.

Globe Life Stock Performance

NYSE GL opened at $121.72 on Friday. Globe Life Inc. has a 52-week low of $86.10 and a 52-week high of $133.76. The company has a 50-day simple moving average of $120.87 and a 200 day simple moving average of $121.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $10.05 billion, a PE ratio of 9.90 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data 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 net margin of 18.33% and a return on equity of 21.44%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $2.78 earnings per share. Globe Life's revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current 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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is currently 8.79%.

Wall Street Analyst Weigh In

GL has been the subject of several analyst reports. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday. They set a "buy" rating and a $150.00 price target for the company. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their target price on shares of Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley set a $127.00 price target on shares of Globe Life and gave the company an "equal weight" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $143.82.

Globe Life 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.

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