Verition Fund Management LLC Makes New $609,000 Investment in Globe Life Inc. (NYSE:GL)

Verition Fund Management LLC acquired a new position in Globe Life Inc. (NYSE:GLGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,057 shares of the company’s stock, valued at approximately $609,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prospera Financial Services Inc acquired a new position in Globe Life in the first quarter worth $31,000. Johnson Financial Group Inc. acquired a new position in shares of Globe Life during the fourth quarter valued at $42,000. Lloyd Advisory Services LLC. acquired a new position in shares of Globe Life during the first quarter valued at $90,000. Shell Asset Management Co. lifted its stake in shares of Globe Life by 75.2% during the first quarter. Shell Asset Management Co. now owns 1,079 shares of the company’s stock valued at $109,000 after acquiring an additional 463 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Globe Life by 1,158.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,221 shares of the company’s stock valued at $114,000 after acquiring an additional 1,124 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

Insider Activity at Globe Life

In related news, CAO Michael Shane Henrie sold 800 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Michael Shane Henrie sold 800 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven John Dichiaro sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $102.30, for a total value of $1,023,000.00. Following the completion of the sale, the insider now directly owns 8,372 shares of the company’s stock, valued at $856,455.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,963 shares of company stock valued at $6,924,008. Insiders own 4.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GL. Piper Sandler upped their price target on Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, July 8th. JPMorgan Chase & Co. increased their target price on Globe Life from $108.00 to $112.00 in a research note on Monday, July 11th. Morgan Stanley increased their target price on Globe Life from $109.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, August 17th. Raymond James began coverage on Globe Life in a research note on Wednesday. They issued a “strong-buy” rating and a $138.00 target price on the stock. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $112.00 in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $114.25.

Globe Life Stock Down 0.9 %

NYSE:GL opened at $102.80 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $10.02 billion, a PE ratio of 14.62 and a beta of 0.88. Globe Life Inc. has a 52-week low of $85.25 and a 52-week high of $108.61. The stock has a 50-day simple moving average of $100.57 and a 200 day simple moving average of $99.14.

Globe Life (NYSE:GLGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 9.90% and a net margin of 13.68%. Globe Life’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.2075 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.83 annualized dividend and a yield of 0.81%. Globe Life’s dividend payout ratio (DPR) is presently 11.81%.

Globe Life Company Profile

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Further Reading

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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