Worldquant Millennium Advisors LLC reduced its stake in Globe Life Inc. (NYSE:GL - Free Report) by 36.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,392 shares of the company's stock after selling 27,197 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.06% of Globe Life worth $5,397,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT purchased a new position in shares of Globe Life in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the 4th quarter worth approximately $28,000. Avalon Trust Co purchased a new position in Globe Life during the 4th quarter worth approximately $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 buying an additional 90 shares during the last quarter. Finally, Platinum Investment Management Ltd. purchased a new position in Globe Life during the 4th quarter worth approximately $45,000. 81.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on GL shares. Keefe, Bruyette & Woods raised their price target on shares of 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 shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Piper Sandler reduced their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley raised their price target on shares of 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, Wells Fargo & Company reduced their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Four 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 an average price target of $137.73.
View Our Latest Stock Report on Globe Life
Insider Transactions at Globe Life
In other news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life 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 transaction, the chief executive officer now owns 31,298 shares in the company, valued at $3,834,317.98. The trade was a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.51% of the company's stock.
Globe Life Price Performance
Globe Life stock traded down $0.05 during trading on Friday, reaching $119.51. The company had a trading volume of 385,967 shares, compared to its average volume of 827,437. Globe Life Inc. has a 1-year low of $76.55 and a 1-year high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm's 50-day simple moving average is $122.78 and its 200 day simple moving average is $118.17. The firm has a market capitalization of $9.86 billion, a PE ratio of 10.00 and a beta of 0.56.
Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $2.78 EPS. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. 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%.
Globe Life Company Profile
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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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