NBC Securities Inc. Has $775,000 Holdings in Globe Life Inc. (NYSE:GL)

NBC Securities Inc. boosted its stake in Globe Life Inc. (NYSE:GL) by 117,640.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,887 shares of the company’s stock after buying an additional 5,882 shares during the period. NBC Securities Inc.’s holdings in Globe Life were worth $775,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the fourth quarter worth approximately $28,000. Avalon Trust Co acquired a new stake in shares of Globe Life during the fourth quarter worth approximately $41,000. EverSource Wealth Advisors LLC increased its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Globe Life in the 4th quarter valued at $45,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Globe Life in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now directly owns 31,298 shares of the company’s stock, valued at $3,834,317.98. The trade was a 16.13% 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. 1.51% of the stock is owned by insiders.

Globe Life Trading Up 0.5%

GL stock opened at $122.86 on Wednesday. The company has a market cap of $10.14 billion, a P/E ratio of 10.28 and a beta of 0.56. Globe Life Inc. has a twelve month low of $76.55 and a twelve 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 has a fifty day moving average of $121.68 and a 200-day moving average of $118.75.

Globe Life (NYSE:GL) last released its 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.78 EPS. As a group, equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GL. Wells Fargo & Company cut their price objective on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $137.73.

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.