SG Americas Securities LLC reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 41.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 51,584 shares of the company's stock after selling 36,809 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Globe Life worth $6,795,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co bought a new stake in shares of Globe Life during the fourth quarter worth $41,000. EverSource Wealth Advisors LLC lifted its position in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Globe Life during the fourth quarter worth $45,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Globe Life during the fourth quarter worth $68,000. 81.61% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction dated 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 approximately $3,834,317.98. This represents a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company's stock.
Globe Life Trading Down 0.9%
NYSE GL traded down $1.07 on Friday, reaching $119.70. 485,391 shares of the company were exchanged, compared to its average volume of 745,371. The business's fifty day moving average price is $120.95 and its 200 day moving average price is $119.37. The stock has a market capitalization of $9.88 billion, a P/E ratio of 10.02 and a beta of 0.56. 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 fifty-two week low of $77.94 and a fifty-two week high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $2.78 EPS. Analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.
Globe Life Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend 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
Several brokerages have recently commented on GL. Wells Fargo & Company cut their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. 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. JPMorgan Chase & Co. raised their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised their price target on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.73.
Check Out Our Latest Report on Globe Life
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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