Universal Beteiligungs und Servicegesellschaft mbH Acquires New Shares in Globe Life Inc. (NYSE:GL)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 75,183 shares of the company's stock, valued at approximately $8,384,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Globe Life at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Globe Life in the fourth quarter valued at about $112,454,000. Raymond James Financial Inc. acquired a new stake in Globe Life during the fourth quarter valued at approximately $61,238,000. Freestone Grove Partners LP acquired a new stake in Globe Life during the fourth quarter valued at approximately $52,178,000. Marshall Wace LLP grew its stake in shares of Globe Life by 1,702.5% in the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of Globe Life by 11,153.5% in the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock worth $49,635,000 after buying an additional 441,121 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

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 shares were sold at an average price of $122.51, for a total value 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 trade represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

GL has been the topic of several recent analyst reports. Wells Fargo & Company decreased 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. Morgan Stanley lifted their price objective on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Piper Sandler lowered their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.

Globe Life Price Performance

NYSE:GL traded down $1.33 during mid-day trading on Wednesday, reaching $121.47. 78,372 shares of the company were exchanged, compared to its average volume of 779,119. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.03 billion, a PE ratio of 10.16 and a beta of 0.56. Globe Life Inc. has a 12 month low of $76.55 and a 12 month high of $133.76. The company has a fifty day moving average of $121.68 and a 200 day moving average of $118.75.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. During the same period last year, the company earned $2.78 earnings per share. Globe Life's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts anticipate 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 0.89%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

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.