Virtus Investment Advisers Inc. Takes $1.36 Million Position in Globe Life Inc. (NYSE:GL)

Virtus Investment Advisers Inc. acquired a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,173 shares of the company's stock, valued at approximately $1,358,000. Globe Life makes up 1.1% of Virtus Investment Advisers Inc.'s portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Albion Financial Group UT purchased a new position in Globe Life during the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the fourth quarter worth about $28,000. Avalon Trust Co acquired a new stake in Globe Life during the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 90 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new stake in Globe Life during the fourth quarter worth about $45,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is owned by insiders.

Globe Life Stock Performance

Shares of NYSE GL traded down $0.72 during mid-day trading on Thursday, hitting $119.48. The company had a trading volume of 523,342 shares, compared to its average volume of 836,157. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 10.00 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 debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm's 50 day simple moving average is $123.09 and its two-hundred day simple moving average is $117.91.

Globe Life (NYSE:GL - Get Free Report) last posted 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). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business earned $2.78 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast 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. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GL shares. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wall Street Zen raised 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 company an "equal weight" rating in a report on Monday. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.73.

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.