Captrust Financial Advisors Sells 5,005 Shares of Globe Life Inc. (NYSE:GL)

Captrust Financial Advisors trimmed its holdings in Globe Life Inc. (NYSE:GL) by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,900 shares of the company’s stock after selling 5,005 shares during the quarter. Captrust Financial Advisors owned about 0.19% of Globe Life worth $20,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Private Trust Co. NA boosted its position 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 buying an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new position in Globe Life in the fourth quarter valued at about $27,000. Lindbrook Capital LLC increased its position in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares during the last quarter. Finally, Keener Financial Planning LLC acquired a new position in Globe Life during the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GL. Truist Financial raised their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Morgan Stanley upped their price target on Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company boosted their price target on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Globe Life Price Performance

Shares of NYSE GL traded up $1.11 during mid-day trading on Tuesday, reaching $93.18. The company had a trading volume of 355,416 shares, compared to its average volume of 1,927,652. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 8.96 and a beta of 0.81. The business’s 50-day simple moving average is $83.71 and its 200 day simple moving average is $98.92. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.61 earnings per share. On average, research analysts predict that Globe Life Inc. will post 11.92 earnings per share for the current fiscal 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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is presently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden purchased 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Matthew Darden acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 8,000 shares of company stock valued at $687,880. 1.51% of the stock is currently owned by corporate 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.