1,665 Shares in Globe Life Inc. (NYSE:GL) Bought by First United Bank & Trust

First United Bank & Trust acquired a new position in shares of Globe Life Inc. (NYSE:GL) in the 1st quarter, Holdings Channel.com reports. The firm acquired 1,665 shares of the company’s stock, valued at approximately $219,000.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Globe Life in the fourth quarter worth about $112,454,000. GAMMA Investing LLC lifted its stake in Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company’s stock valued at $102,991,000 after purchasing an additional 776,895 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Globe Life in the fourth quarter valued at approximately $61,238,000. Freestone Grove Partners LP bought a new stake in shares of Globe Life during the fourth quarter worth $52,178,000. Finally, Marshall Wace LLP grew its stake in shares of Globe Life by 1,702.5% during the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock worth $54,053,000 after buying an additional 457,802 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley raised their price objective on Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Piper Sandler cut their price target on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.73.

Globe Life Stock Down 0.3%

Shares of NYSE GL opened at $119.76 on Thursday. 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 company has a market cap of $9.89 billion, a P/E ratio of 10.02 and a beta of 0.56. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The business has a 50-day simple moving average of $120.70 and a two-hundred day simple moving average of $119.14.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.78 EPS. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life’s dividend payout ratio (DPR) is presently 8.79%.

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.