Toronto Dominion Bank Cuts Position in Globe Life Inc. (NYSE:GL)

Toronto Dominion Bank decreased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,612 shares of the company's stock after selling 11,630 shares during the quarter. Toronto Dominion Bank's holdings in Globe Life were worth $3,971,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Albion Financial Group UT bought a new position in Globe Life during the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new position in Globe Life during the 4th quarter worth $28,000. Avalon Trust Co bought a new position in Globe Life during the 4th quarter worth $41,000. EverSource Wealth Advisors LLC raised its position in Globe Life by 32.7% during the 4th 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. Finally, Platinum Investment Management Ltd. bought a new position in Globe Life during the 4th quarter worth $45,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GL shares. Piper Sandler lowered their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised 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. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Morgan Stanley raised their target price 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. Finally, JPMorgan Chase & Co. lifted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given 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 price target of $137.73.

Globe Life Stock Down 0.0%

Shares of GL traded down $0.05 during trading hours on Monday, hitting $119.51. The stock had a trading volume of 385,967 shares, compared to its average volume of 827,437. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50 day simple moving average of $122.78 and a 200-day simple moving average of $118.24. The firm has a market capitalization of $9.86 billion, a P/E ratio of 10.00 and a beta of 0.56. 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 issued 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). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.78 earnings per share. Sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's dividend payout ratio is presently 8.79%.

Insider Activity

In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction dated 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 directly owns 31,298 shares in the company, valued at $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.51% of the stock is currently owned by company insiders.

Globe Life 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.