Edgestream Partners L.P. Has $7.60 Million Stake in Globe Life Inc. (NYSE:GL)

Edgestream Partners L.P. increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 2,416.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,706 shares of the company's stock after buying an additional 55,413 shares during the quarter. Edgestream Partners L.P. owned 0.07% of Globe Life worth $7,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC bought a new position in shares of Globe Life during the 1st quarter worth approximately $493,000. Principal Financial Group Inc. lifted its position in shares of Globe Life by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock worth $13,393,000 after buying an additional 3,960 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Globe Life by 693.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after buying an additional 21,136 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Globe Life by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after buying an additional 723 shares during the period. Finally, Lighthouse Investment Partners LLC lifted its position in shares of Globe Life by 914.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock worth $14,304,000 after buying an additional 115,628 shares during the period. Institutional investors own 81.61% of the company's stock.

Insider Activity

In other news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer directly owned 31,298 shares of the company's stock, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.97% of the stock is owned by company insiders.

Globe Life Trading Down 1.4%

NYSE GL traded down $1.71 on Tuesday, reaching $118.98. The company had a trading volume of 122,933 shares, compared to its average volume of 706,630. The stock's 50 day moving average is $120.95 and its 200-day moving average is $121.31. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 9.70 and a beta of 0.56. 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 Inc. has a 52 week low of $85.86 and a 52 week high of $133.76.

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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $2.78 EPS. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley set a $127.00 price objective on Globe Life and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Truist Financial assumed coverage on Globe Life in a research report on Tuesday. They issued a "buy" rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $143.82.

Globe Life Company 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.