McNamara Financial Services Inc. Takes Position in Globe Life Inc. (NYSE:GL)

McNamara Financial Services Inc. purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,251 shares of the company's stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Trust Co. NA boosted its position in shares of Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. HighPoint Advisor Group LLC lifted 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 valued at $276,000 after purchasing an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Globe Life by 32.7% during the fourth 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. Finally, New Mexico Educational Retirement Board grew its position in Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock worth $472,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Activity

In other news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction 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 in the company, valued at $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. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GL shares. Piper Sandler reduced their price objective 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. JPMorgan Chase & Co. increased their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $137.73.

Globe Life Stock Down 0.5%

Globe Life stock opened at $119.69 on Friday. Globe Life Inc. has a twelve month low of $76.55 and a twelve month high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $9.88 billion, a PE ratio of 10.02 and a beta of 0.56. The firm's 50 day moving average price is $121.25 and its two-hundred day moving average price is $118.83.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results 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 net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $2.78 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's dividend 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.

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