Mitchell Mcleod Pugh & Williams Inc. decreased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 53.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,738 shares of the company's stock after selling 5,423 shares during the period. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Globe Life were worth $624,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Avalon Trust Co bought a new position in Globe Life during the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its position in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in shares of Globe Life in the 4th quarter worth approximately $45,000. Resona Asset Management Co. Ltd. bought a new position in shares of Globe Life in the 4th quarter worth approximately $68,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Globe Life in the 4th quarter worth approximately $70,000. Institutional investors own 81.61% of the company's stock.
Globe Life Stock Up 1.5%
Shares of Globe Life stock traded up $1.82 during midday trading on Thursday, hitting $121.72. The company had a trading volume of 541,823 shares, compared to its average volume of 702,244. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market capitalization of $10.05 billion, a P/E ratio of 9.90 and a beta of 0.56. The company has a 50 day moving average of $120.87 and a 200 day moving average of $121.43. Globe Life Inc. has a 52-week low of $86.10 and a 52-week high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results 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). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the company earned $2.78 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. Globe Life's dividend payout ratio is 8.79%.
Insider Buying and Selling
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the 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 sale, the chief executive officer directly owned 31,298 shares in the company, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Piper Sandler decreased their target price 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 target price on Globe Life and gave the stock an "equal weight" rating in a research report on Monday. Truist Financial assumed coverage on Globe Life in a research report on Tuesday. They issued a "buy" rating and a $150.00 target price for the company. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.82.
Read Our Latest Research Report on GL
Globe Life Company Profile
(
Free Report)
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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