Stephens Inc. AR Buys 22,831 Shares of Globe Life Inc. (NYSE:GL)

Stephens Inc. AR boosted its position in Globe Life Inc. (NYSE:GL - Free Report) by 436.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,061 shares of the company's stock after acquiring an additional 22,831 shares during the period. Stephens Inc. AR's holdings in Globe Life were worth $3,696,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GL. HighTower Advisors LLC boosted its holdings in Globe Life by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock valued at $2,454,000 after acquiring an additional 406 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Globe Life by 17.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,048 shares of the company's stock valued at $340,000 after acquiring an additional 446 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Avalon Trust Co bought a new position in Globe Life in the fourth quarter valued at about $41,000. Finally, Platinum Investment Management Ltd. bought a new position in Globe Life in the fourth quarter valued at about $45,000. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Up 1.9%

Shares of NYSE GL traded up $2.20 during mid-day trading on Wednesday, reaching $119.94. 404,650 shares of the company's stock were exchanged, compared to its average volume of 705,680. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 9.76 and a beta of 0.56. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $120.86 and a 200 day simple moving average of $121.35. Globe Life Inc. has a twelve month low of $86.10 and a twelve month high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly 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). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.78 EPS. As a group, equities analysts expect that Globe Life Inc. will post 13.87 EPS 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 given 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 presently 8.79%.

Wall Street Analyst Weigh In

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

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life 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 sale, the chief executive officer owned 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.51% of the company's stock.

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.