RF&L Wealth Management LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,157 shares of the company's stock, valued at approximately $284,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GL. Rakuten Securities Inc. bought a new position in shares of Globe Life during the fourth quarter valued at $28,000. Avalon Trust Co bought a new position in shares of Globe Life in the fourth quarter valued at about $41,000. EverSource Wealth Advisors LLC raised its holdings in shares of Globe Life by 32.7% in the fourth 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 last quarter. Platinum Investment Management Ltd. bought a new position in shares of Globe Life in the fourth quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Globe Life in the fourth quarter valued at about $68,000. 81.61% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Piper Sandler cut their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley lifted their price target on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company cut their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $137.73.
Read Our Latest Stock Report on Globe Life
Insiders Place Their Bets
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life 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 completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.97% of the company's stock.
Globe Life Trading Up 1.3%
GL traded up $1.51 during trading on Monday, reaching $122.10. 535,023 shares of the company's stock were exchanged, compared to its average volume of 728,401. The company's fifty day moving average price is $121.02 and its 200-day moving average price is $119.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a fifty-two week low of $80.36 and a fifty-two week high of $133.76. The firm has a market capitalization of $10.08 billion, a PE ratio of 9.94 and a beta of 0.56.
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 analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $2.78 EPS. Globe Life's revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.
Globe Life Announces Dividend
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 issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.
About Globe Life
(
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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