Fox Run Management L.L.C. Makes New Investment in Globe Life Inc. (NYSE:GL)

Fox Run Management L.L.C. bought a new position in shares of Globe Life Inc. (NYSE:GL) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,206 shares of the company’s stock, valued at approximately $686,000.

A number of other large investors have also recently added to or reduced their stakes in GL. SouthState Corp acquired a new position in shares of Globe Life during the 1st quarter worth about $43,000. Allworth Financial LP boosted its stake in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company’s stock worth $71,000 after buying an additional 103 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock worth $77,000 after buying an additional 342 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Globe Life by 25.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company’s stock worth $100,000 after buying an additional 157 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Globe Life by 42.4% in the 1st quarter. Blue Trust Inc. now owns 772 shares of the company’s stock valued at $102,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Morgan Stanley upgraded shares of Globe Life from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $135.00 to $166.00 in a research note on Tuesday, August 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $152.00.

Globe Life Stock Performance

GL opened at $135.46 on Friday. The business has a fifty day simple moving average of $126.98 and a 200 day simple moving average of $124.32. The company has a market capitalization of $10.97 billion, a PE ratio of 10.83 and a beta of 0.56. Globe Life Inc. has a 1 year low of $96.11 and a 1 year high of $144.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $2.97 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the transaction, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the transaction, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,741 shares of company stock valued at $12,471,180 over the last ninety days. Company insiders own 1.51% of the company’s stock.

Globe Life 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.