Soros Fund Management LLC Invests $5.35 Million in Globe Life Inc. (NYSE:GL)

Soros Fund Management LLC purchased a new stake in Globe Life Inc. (NYSE:GL) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 48,000 shares of the company’s stock, valued at approximately $5,353,000.

Several other institutional investors also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC raised its stake in Globe Life by 62.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 10,761 shares of the company’s stock valued at $1,200,000 after purchasing an additional 4,118 shares during the last quarter. Lido Advisors LLC boosted its position in Globe Life by 1,115.4% during the fourth quarter. Lido Advisors LLC now owns 29,437 shares of the company’s stock worth $3,283,000 after acquiring an additional 27,015 shares during the last quarter. Northern Trust Corp grew its stake in Globe Life by 3.3% during the 4th quarter. Northern Trust Corp now owns 817,489 shares of the company’s stock valued at $91,166,000 after acquiring an additional 26,398 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Globe Life by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 70,666 shares of the company’s stock valued at $7,881,000 after acquiring an additional 1,019 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Globe Life in the 4th quarter worth approximately $1,194,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

Shares of GL stock opened at $123.56 on Tuesday. Globe Life Inc. has a 12 month low of $71.50 and a 12 month high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.29 billion, a P/E ratio of 10.34 and a beta of 0.60. The firm has a fifty day moving average price of $124.14 and a 200 day moving average price of $116.51.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Sell-side analysts predict that Globe Life Inc. will post 13.87 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 Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on shares of Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley cut their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.55.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

About Globe Life

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.