First Trust Advisors LP Acquires 33,521 Shares of Globe Life Inc. (NYSE:GL)

First Trust Advisors LP boosted its holdings in Globe Life Inc. (NYSE:GL – Get Rating) by 49.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,774 shares of the company’s stock after buying an additional 33,521 shares during the period. First Trust Advisors LP owned approximately 0.10% of Globe Life worth $12,269,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. increased its position in shares of Globe Life by 72.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 409 shares of the company’s stock valued at $41,000 after purchasing an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Globe Life in the 4th quarter valued at $53,000. Ellevest Inc. boosted its stake in Globe Life by 33.7% in the 4th quarter. Ellevest Inc. now owns 599 shares of the company’s stock valued at $72,000 after buying an additional 151 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in Globe Life in the 3rd quarter valued at $84,000. Finally, Tobam acquired a new stake in Globe Life in the 4th quarter valued at $102,000. 81.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

GL has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. Piper Sandler reduced their price objective on Globe Life from $135.00 to $130.00 in a research note on Friday, May 5th. Wells Fargo & Company initiated coverage on Globe Life in a research note on Tuesday, April 25th. They issued an “equal weight” rating and a $120.00 price objective on the stock. StockNews.com started coverage on Globe Life in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Raymond James cut their price target on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Globe Life Stock Down 0.9 %

GL stock opened at $107.45 on Wednesday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $107.89 and a two-hundred day moving average price of $114.84. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 13.25 and a beta of 0.79. Globe Life Inc. has a twelve month low of $87.87 and a twelve month high of $123.85.

Globe Life (NYSE:GL – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.36 billion. Globe Life had a return on equity of 19.20% and a net margin of 15.28%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. Analysts anticipate that Globe Life Inc. will post 10.39 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 3rd were paid a dividend of $0.225 per share. 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 0.84%. The ex-dividend date of this dividend was Friday, March 31st. Globe Life’s payout ratio is currently 11.10%.

Insider Transactions at Globe Life

In other news, Director Melissa Jane Buchan sold 1,900 shares of Globe Life stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $105.95, for a total transaction of $201,305.00. Following the completion of the transaction, the director now directly owns 81,658 shares in the company, valued at approximately $8,651,665.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 3,370 shares of the company’s stock, valued at approximately $408,983.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Melissa Jane Buchan sold 1,900 shares of Globe Life stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $105.95, for a total value of $201,305.00. Following the sale, the director now directly owns 81,658 shares of the company’s stock, valued at $8,651,665.10. The disclosure for this sale can be found here. In the last three months, insiders sold 91,125 shares of company stock worth $10,994,960. 4.33% of the stock is owned by company insiders.

Globe Life Profile

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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.