Wilkins Miller Wealth Management LLC purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,340 shares of the company's stock, valued at approximately $261,000.
A number of other large investors also recently added to or reduced their stakes in GL. Rakuten Securities Inc. bought a new stake in Globe Life in the 4th quarter worth approximately $28,000. Avalon Trust Co purchased a new stake in Globe Life in the fourth quarter worth $41,000. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 90 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in Globe Life in the 4th quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Globe Life in the 4th quarter valued at about $68,000. 81.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
GL has been the subject of several research reports. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Wells Fargo & Company lowered their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Morgan Stanley upped their price objective on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler decreased their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price of $137.73.
View Our Latest Research Report on Globe Life
Insider Activity
In other 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 value of $737,387.69. Following the transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This represents 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 accessible through the SEC website. Corporate insiders own 1.51% of the company's stock.
Globe Life Stock Up 0.8%
Globe Life stock traded up $0.90 during midday trading on Thursday, reaching $120.95. The company's stock had a trading volume of 580,906 shares, compared to its average volume of 821,060. The stock's 50-day simple moving average is $122.35 and its 200-day simple moving average is $118.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The stock has a market capitalization of $9.98 billion, a P/E ratio of 10.12 and a beta of 0.56.
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 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the business posted $2.78 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.
Globe Life Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 8.79%.
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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