Quest Partners LLC Takes Position in Globe Life Inc. (NYSE:GL)

Quest Partners LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,790 shares of the company's stock, valued at approximately $1,800,000. Globe Life makes up about 0.4% of Quest Partners LLC's investment portfolio, making the stock its 3rd largest holding.

Several other institutional investors have also modified their holdings of the stock. Private Trust Co. NA lifted its holdings in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in Globe Life during the fourth quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in Globe Life during the fourth quarter worth about $28,000. Lindbrook Capital LLC grew its stake in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company's stock valued at $34,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GL. Truist Financial dropped their price target on Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, April 24th. StockNews.com downgraded Globe Life from a "buy" rating to a "hold" rating in a research note on Saturday, April 20th. Piper Sandler reduced their price target on Globe Life from $130.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $132.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $114.33.

Insider Buying and Selling at Globe Life

In related news, Director David A. Rodriguez purchased 1,500 shares of the business's stock in a transaction on Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company's stock, valued at $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company's stock, valued at approximately $790,006. The disclosure for this sale can be found here. Insiders acquired 4,000 shares of company stock valued at $331,435 in the last 90 days. Company insiders own 1.51% of the company's stock.

Globe Life Trading Down 0.1 %

NYSE:GL traded down $0.08 during trading hours on Monday, reaching $85.99. 1,274,031 shares of the stock were exchanged, compared to its average volume of 2,202,477. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The business has a 50-day moving average of $92.91 and a two-hundred day moving average of $111.93. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 8.21 and a beta of 0.78. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 earnings per share. On average, equities analysts predict that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. Globe Life's dividend payout ratio (DPR) is presently 9.17%.

Globe Life Company 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.