Advisory Alpha LLC Buys New Stake in Globe Life Inc. (NYSE:GL)

Advisory Alpha LLC bought a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,917 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new stake in Globe Life in the third quarter worth $32,000. True Wealth Design LLC bought a new stake in Globe Life in the third quarter worth $59,000. Benjamin F. Edwards & Company Inc. lifted its position in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after buying an additional 270 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last three months. 1.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GL has been the subject of a number of analyst reports. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday. They issued a “market perform” rating and a $114.00 price target for the company. Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their target price on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.18.

Globe Life Stock Performance

GL stock opened at $118.34 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50-day moving average price of $110.67 and a 200 day moving average price of $104.13. The company has a market capitalization of $9.93 billion, a P/E ratio of 10.01 and a beta of 0.80. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, equities research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. Globe Life’s payout ratio is currently 8.12%.

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.