NBC Securities Inc. Has $775,000 Stock Holdings in Globe Life Inc. (NYSE:GL)

NBC Securities Inc. raised its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 117,640.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,887 shares of the company's stock after acquiring an additional 5,882 shares during the quarter. NBC Securities Inc.'s holdings in Globe Life were worth $775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GL. Raymond James Financial Inc. purchased a new position in Globe Life during the fourth quarter worth about $61,238,000. Lighthouse Investment Partners LLC grew its holdings in shares of Globe Life by 914.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock worth $14,304,000 after acquiring an additional 115,628 shares during the period. Prudential Financial Inc. raised its stake in Globe Life by 50.0% during the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after buying an additional 27,590 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after buying an additional 9,395 shares during the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in shares of Globe Life by 76.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 91,682 shares of the company's stock worth $10,224,000 after buying an additional 39,678 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Globe Life Trading Up 1.5%

NYSE GL traded up $1.86 during mid-day trading on Friday, reaching $121.63. 165,475 shares of the stock were exchanged, compared to its average volume of 771,554. Globe Life Inc. has a 1-year low of $76.55 and a 1-year high of $133.76. The business's fifty day simple moving average is $121.25 and its 200 day simple moving average is $118.83. The stock has a market capitalization of $10.04 billion, a PE ratio of 10.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $2.78 earnings per share. Globe Life's revenue was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

About Globe Life

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.