Symmetry Partners LLC Takes Position in Globe Life Inc. (NYSE:GL)

Symmetry Partners LLC bought a new stake in Globe Life Inc. (NYSE:GL – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,692 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in Globe Life by 8.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,238 shares of the company’s stock worth $123,000 after acquiring an additional 94 shares during the period. Fifth Third Bancorp grew its holdings in Globe Life by 3.1% during the third quarter. Fifth Third Bancorp now owns 3,220 shares of the company’s stock worth $321,000 after acquiring an additional 98 shares during the period. Utah Retirement Systems grew its holdings in Globe Life by 0.6% during the third quarter. Utah Retirement Systems now owns 16,247 shares of the company’s stock worth $1,620,000 after acquiring an additional 100 shares during the period. Creative Planning grew its holdings in Globe Life by 0.6% during the third quarter. Creative Planning now owns 18,564 shares of the company’s stock worth $1,851,000 after acquiring an additional 113 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in Globe Life by 0.7% during the third quarter. IFM Investors Pty Ltd now owns 16,885 shares of the company’s stock worth $1,683,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GL. Raymond James dropped their price objective on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a report on Tuesday, March 14th. Truist Financial boosted their target price on Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, February 3rd. Morgan Stanley boosted their target price on Globe Life from $132.00 to $133.00 and gave the stock an “underweight” rating in a research report on Friday, February 24th. Piper Sandler boosted their target price on Globe Life from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 20th. Finally, StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $129.14.

Globe Life Stock Down 3.4 %

Shares of NYSE:GL opened at $105.05 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33. Globe Life Inc. has a 52-week low of $87.87 and a 52-week high of $123.85. The stock’s fifty day simple moving average is $119.10 and its 200-day simple moving average is $114.07. The company has a market capitalization of $10.14 billion, a P/E ratio of 14.06 and a beta of 0.80.

Globe Life (NYSE:GL – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Globe Life had a return on equity of 15.03% and a net margin of 14.18%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business earned $1.70 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Globe Life Inc. will post 10.37 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 3rd will be given a $0.225 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 31st. Globe Life’s dividend payout ratio is currently 11.11%.

Insider Activity

In related news, Director Melissa Jane Buchan sold 1,900 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $105.95, for a total transaction of $201,305.00. Following the transaction, the director now directly owns 81,658 shares in the company, valued at $8,651,665.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Frank M. Svoboda sold 10,000 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $121.36, for a total transaction of $1,213,600.00. Following the transaction, the chief executive officer now directly owns 3,370 shares in the company, valued at $408,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Melissa Jane Buchan sold 1,900 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $105.95, for a total value of $201,305.00. Following the transaction, the director now owns 81,658 shares in the company, valued at $8,651,665.10. The disclosure for this sale can be found here. Insiders have sold 105,900 shares of company stock worth $12,593,525 over the last three months. 4.62% of the stock is currently owned by corporate insiders.

About Globe Life

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.