Globe Life Inc. (NYSE:GL) Stake Lifted by Stephens Inc. AR

Stephens Inc. AR raised its stake in Globe Life Inc. (NYSE:GL) by 436.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,061 shares of the company’s stock after buying an additional 22,831 shares during the quarter. Stephens Inc. AR’s holdings in Globe Life were worth $3,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the period. Avalon Trust Co bought a new position in shares of Globe Life in the fourth quarter worth $41,000. Platinum Investment Management Ltd. acquired a new position in shares of Globe Life during the fourth quarter valued at $45,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Globe Life during the fourth quarter valued at about $68,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Globe Life in the fourth quarter worth about $70,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the sale, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.97% of the stock is currently owned by company insiders.

Globe Life Price Performance

Shares of NYSE:GL opened at $120.75 on Tuesday. The company has a market capitalization of $9.97 billion, a PE ratio of 9.82 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a fifty day moving average of $120.95 and a 200-day moving average of $121.31. Globe Life Inc. has a one year low of $85.86 and a one year high of $133.76.

Globe Life (NYSE:GL) last announced its earnings results 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). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $2.78 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley set a $127.00 price objective on shares of Globe Life and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price target on Globe Life from $139.00 to $144.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Piper Sandler dropped their price objective on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.73.

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.