Voloridge Investment Management LLC lowered its stake in Globe Life Inc. (NYSE:GL - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 587,200 shares of the company's stock after selling 95,133 shares during the period. Voloridge Investment Management LLC owned 0.70% of Globe Life worth $65,485,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in Globe Life during the 4th quarter worth $28,000. Avalon Trust Co acquired a new stake in Globe Life during the 4th quarter worth $41,000. EverSource Wealth Advisors LLC raised its position in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in shares of Globe Life in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 81.61% of the company's stock.
Insiders Place Their Bets
In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.51% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on GL shares. Wells Fargo & Company decreased their price objective on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods boosted 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. Morgan Stanley upped 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. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four equities research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.73.
Check Out Our Latest Report on GL
Globe Life Stock Down 0.0%
Shares of GL traded down $0.05 on Monday, hitting $119.51. The company's stock had a trading volume of 385,967 shares, compared to its average volume of 827,437. The firm's fifty day moving average price is $122.78 and its 200-day moving average price is $118.24. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. 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 firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 10.00 and a beta of 0.56.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $2.78 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.
Globe Life Dividend Announcement
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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is presently 8.79%.
Globe Life Profile
(
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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