Sequoia Financial Advisors LLC Raises Stake in Globe Life Inc. (NYSE:GL)

Sequoia Financial Advisors LLC boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 693.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,184 shares of the company's stock after acquiring an additional 21,136 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Globe Life were worth $3,185,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GL. Private Trust Co. NA increased its stake in Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company's stock worth $84,000 after acquiring an additional 84 shares during the last quarter. Mitchell Capital Management Co. increased its stake in Globe Life by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 88,666 shares of the company's stock worth $9,888,000 after acquiring an additional 377 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Globe Life by 18.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 784 shares of the company's stock worth $87,000 after acquiring an additional 124 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Globe Life by 685.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,209 shares of the company's stock worth $135,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in Globe Life in the 4th quarter worth about $84,000. 81.61% of the stock is currently owned by institutional investors.

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 value of $737,387.69. Following the completion of the sale, the chief executive officer now owns 31,298 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.51% of the stock is currently owned by company insiders.

Globe Life Trading Up 0.8%

Shares of GL stock opened at $123.96 on Friday. The stock has a market capitalization of $10.23 billion, a PE ratio of 10.09 and a beta of 0.56. Globe Life Inc. has a 1-year low of $80.36 and a 1-year high of $133.76. The business has a 50-day moving average of $121.13 and a 200 day moving average of $120.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). The company had revenue of $1.48 billion for 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 company's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.78 earnings per share. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GL. Morgan Stanley increased their price objective on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company reduced 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. Piper Sandler reduced their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

Globe Life Company 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.

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.