Globe Life Inc. (NYSE:GL) Position Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its position in Globe Life Inc. (NYSE:GL - Free Report) by 47.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,432 shares of the company's stock after buying an additional 2,391 shares during the period. Pallas Capital Advisors LLC's holdings in Globe Life were worth $979,000 at the end of the most recent quarter.

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

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.51% of the company's stock.

Globe Life Price Performance

Shares of NYSE GL traded down $1.07 during trading on Friday, reaching $119.70. The company had a trading volume of 485,391 shares, compared to its average volume of 745,371. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a twelve month low of $77.94 and a twelve month high of $133.76. The stock has a 50-day moving average price of $120.95 and a two-hundred day moving average price of $119.32. The stock has a market capitalization of $9.88 billion, a PE ratio of 10.02 and a beta of 0.56.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $2.78 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The company 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.

Analyst Ratings Changes

Several research firms have commented on GL. Wells Fargo & Company lowered their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley upped their price target 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 dropped their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. upped 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. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.