Freestone Grove Partners LP Acquires New Position in Globe Life Inc. (NYSE:GL)

Freestone Grove Partners LP acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 467,880 shares of the company's stock, valued at approximately $52,178,000. Freestone Grove Partners LP owned approximately 0.56% of Globe Life as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after acquiring an additional 194 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Globe Life in the fourth quarter worth about $28,000. Albion Financial Group UT bought a new position in shares of Globe Life during the fourth quarter valued at approximately $28,000. Avalon Trust Co purchased a new stake in shares of Globe Life in the fourth quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its stake 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 worth $41,000 after acquiring an additional 90 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GL. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Morgan Stanley dropped their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Piper Sandler decreased 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 note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $137.09.

Globe Life Stock Down 0.3 %

Globe Life stock traded down $0.31 during trading on Monday, reaching $121.52. The stock had a trading volume of 524,391 shares, compared to its average volume of 917,473. The stock has a market cap of $10.12 billion, a PE ratio of 10.17 and a beta of 0.56. The business has a 50 day moving average price of $124.02 and a 200 day moving average price of $116.84. Globe Life Inc. has a 52-week low of $76.55 and a 52-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.

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 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 analysts' expectations of $1.49 billion. During the same period last year, the business earned $2.78 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is currently 8.79%.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

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.