6,754 Shares in Globe Life Inc. (NYSE:GL) Acquired by Golden State Equity Partners

Golden State Equity Partners purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,754 shares of the company's stock, valued at approximately $890,000.

A number of other institutional investors have also recently bought and sold shares of the business. Private Trust Co. NA increased its holdings in Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company's stock worth $84,000 after purchasing an additional 84 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after purchasing an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Globe Life by 0.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock valued at $2,605,000 after buying an additional 89 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% during the 4th 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. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction on 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 now owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.51% of the company's stock.

Globe Life Trading Up 0.8%

Shares of NYSE:GL traded up $0.92 during midday trading on Friday, hitting $123.96. 652,075 shares of the stock traded hands, compared to its average volume of 718,793. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $121.13 and its two-hundred day moving average is $120.19. The stock has a market capitalization of $10.23 billion, a PE ratio of 10.09 and a beta of 0.56. Globe Life Inc. has a one year low of $80.36 and a one year 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 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.78 EPS. As a group, research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GL shares. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price 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. Wells Fargo & Company dropped their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, 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 report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.73.

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.