Pallas Capital Advisors LLC raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 47.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,432 shares of the company's stock after purchasing 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 reporting period.
Several other hedge funds also recently modified their holdings of GL. Rakuten Securities Inc. purchased a new position in shares of Globe Life during the 4th quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 90 shares during the period. Platinum Investment Management Ltd. purchased a new position in shares of Globe Life in the 4th quarter worth $45,000. Finally, Versant Capital Management Inc increased its stake in Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after acquiring an additional 342 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction that occurred on 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 owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.51% of the company's stock.
Globe Life Stock Performance
Shares of NYSE:GL traded down $0.44 during trading hours on Thursday, hitting $119.34. The stock had a trading volume of 83,769 shares, compared to its average volume of 754,152. The stock's fifty day simple moving average is $120.70 and its 200 day simple moving average is $119.14. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 9.99 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 Inc. has a 1-year low of $76.55 and a 1-year high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last released its 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 analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $2.78 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The firm also recently declared 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. This represents a $1.08 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.
Analyst Upgrades and Downgrades
GL has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of 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. boosted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler cut their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Four 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 stock. Based on data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $137.73.
View Our Latest Analysis on GL
Globe Life 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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