Lido Advisors LLC Raises Position in Globe Life Inc. (NYSE:GL)

Lido Advisors LLC raised its position in Globe Life Inc. (NYSE:GL) by 1,115.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,437 shares of the company’s stock after acquiring an additional 27,015 shares during the quarter. Lido Advisors LLC’s holdings in Globe Life were worth $3,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its holdings in Globe Life by 3.3% in the 4th quarter. Northern Trust Corp now owns 817,489 shares of the company’s stock valued at $91,166,000 after purchasing an additional 26,398 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 buying an additional 1,019 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Globe Life during the 4th quarter worth about $1,194,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $391,000. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Globe Life by 3.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 105,753 shares of the company’s stock worth $11,794,000 after purchasing an additional 3,618 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GL. Morgan Stanley cut their price target on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $137.55.

Globe Life Price Performance

Globe Life stock opened at $123.33 on Thursday. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 10.32 and a beta of 0.60. Globe Life Inc. has a 12-month low of $75.48 and a 12-month high of $133.76. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $124.15 and its 200 day simple moving average is $116.61.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business earned $2.78 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. Globe Life’s dividend payout ratio is presently 9.04%.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction dated Thursday, February 13th. The stock was 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 approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

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.