Mount Yale Investment Advisors LLC Takes Position in Globe Life Inc. (NYSE:GL)

Mount Yale Investment Advisors LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,450 shares of the company’s stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in Globe Life by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 198,945 shares of the company’s stock worth $23,153,000 after acquiring an additional 9,497 shares during the last quarter. Lazard Asset Management LLC raised its stake in Globe Life by 41.5% in the 1st quarter. Lazard Asset Management LLC now owns 352,221 shares of the company’s stock worth $40,987,000 after acquiring an additional 103,226 shares during the last quarter. LRI Investments LLC purchased a new position in Globe Life in the 1st quarter worth $72,000. Sheaff Brock Investment Advisors LLC raised its stake in Globe Life by 3.0% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 56,534 shares of the company’s stock worth $6,579,000 after acquiring an additional 1,642 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in Globe Life by 337.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,843 shares of the company’s stock worth $214,000 after acquiring an additional 1,422 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

GL traded up $1.38 during midday trading on Monday, hitting $92.07. 1,027,129 shares of the company were exchanged, compared to its average volume of 1,938,571. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 8.92 and a beta of 0.81. The company’s 50 day simple moving average is $83.59 and its 200 day simple moving average is $99.12.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $2.61 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Activity

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mary E. Thigpen acquired 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Edward Hensley acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the acquisition, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders have acquired 8,000 shares of company stock worth $687,880 in the last ninety days. Company insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GL shares. Morgan Stanley raised their target price on Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company raised their target price on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday. Piper Sandler raised their target price on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James restated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Evercore ISI increased their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $105.44.

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.