AlphaQuest LLC Takes Position in Globe Life Inc. $GL

AlphaQuest LLC purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,844 shares of the company’s stock, valued at approximately $693,000.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Globe Life by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock valued at $1,237,000 after purchasing an additional 607 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Globe Life by 368.1% in the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after buying an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Globe Life by 11.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock worth $74,161,000 after buying an additional 58,163 shares in the last quarter. Empowered Funds LLC acquired a new stake in Globe Life in the 1st quarter valued at about $428,000. Finally, Focus Partners Wealth increased its holdings in Globe Life by 8.3% during the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after acquiring an additional 656 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.2%

GL stock opened at $143.77 on Wednesday. The stock has a market capitalization of $11.45 billion, a P/E ratio of 10.42 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a one year low of $109.38 and a one year high of $147.83. The company has a 50 day moving average price of $138.70 and a two-hundred day moving average price of $137.68.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Monday, January 5th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, January 5th. Globe Life’s dividend payout ratio (DPR) is presently 7.83%.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 9,379 shares of Globe Life stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $140.43, for a total value of $1,317,092.97. Following the completion of the sale, the chief executive officer owned 35,868 shares in the company, valued at $5,036,943.24. The trade was a 20.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GL shares. Truist Financial upped their price target on shares of Globe Life from $150.00 to $158.00 and gave the company a “buy” rating in a report on Friday, October 24th. Morgan Stanley restated an “overweight” rating and set a $176.00 price objective on shares of Globe Life in a research report on Monday, December 15th. TD Cowen reaffirmed a “buy” rating on shares of Globe Life in a research note on Thursday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $167.00 target price on shares of Globe Life in a report on Friday, November 21st. Finally, Weiss Ratings downgraded Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $166.22.

Globe Life Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.