RF&L Wealth Management LLC Takes Position in Globe Life Inc. (NYSE:GL)

RF&L Wealth Management LLC bought a new position in Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 2,157 shares of the company's stock, valued at approximately $284,000.

Several other large investors also recently bought and sold shares of GL. Norges Bank acquired a new position in shares of Globe Life in the fourth quarter valued at about $112,454,000. GAMMA Investing LLC boosted its position in Globe Life by 15,553.5% in the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after buying an additional 776,895 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Globe Life in the fourth quarter valued at approximately $61,238,000. Freestone Grove Partners LP acquired a new position in Globe Life in the 4th quarter worth approximately $52,178,000. Finally, Marshall Wace LLP raised its position in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock worth $54,053,000 after buying an additional 457,802 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

NYSE GL opened at $119.63 on Friday. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 9.73 and a beta of 0.56. The stock has a 50-day moving average of $120.99 and a 200 day moving average of $119.50. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a twelve month low of $80.01 and a twelve month high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.78 earnings per share. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.

Insider Activity

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 completion of the transaction, the chief executive officer now owns 31,298 shares of the company's stock, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley increased their price target on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler lowered their target price 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 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.73.

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.

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