Jefferies Financial Group Inc. Takes $5.09 Million Position in Globe Life Inc. (NYSE:GL)

Jefferies Financial Group Inc. bought a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 45,630 shares of the company's stock, valued at approximately $5,089,000. Jefferies Financial Group Inc. owned 0.05% of Globe Life as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. increased its position in shares of 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 during the last quarter. Wilkins Miller Wealth Management LLC bought a new position in Globe Life during the fourth quarter valued at approximately $261,000. Waverly Advisors LLC grew its position in Globe Life by 10.8% during the fourth quarter. Waverly Advisors LLC now owns 5,662 shares of the company's stock valued at $631,000 after acquiring an additional 554 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Globe Life during the fourth quarter valued at approximately $5,636,000. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of Globe Life during the fourth quarter valued at approximately $116,000. Institutional investors own 81.61% of the company's stock.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now owns 31,298 shares of the company's stock, valued at $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GL shares. Keefe, Bruyette & Woods increased their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley increased their price objective on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Piper Sandler dropped their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and an average price target of $137.73.

Globe Life Stock Up 0.8%

Shares of NYSE:GL traded up $0.90 on Thursday, hitting $120.95. 580,906 shares of the company traded hands, compared to its average volume of 819,320. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $122.35 and a 200-day simple moving average of $118.35. The company has a market cap of $9.98 billion, a PE ratio of 10.12 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 the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business posted $2.78 earnings per share. Globe Life's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

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 given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. Globe Life's payout ratio is 8.79%.

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.