Stratos Wealth Partners LTD. Buys Shares of 1,785 Globe Life Inc. (NYSE:GL)

Stratos Wealth Partners LTD. bought a new stake in Globe Life Inc. (NYSE:GL) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,785 shares of the company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after acquiring an additional 27,908 shares during the period. Arizona State Retirement System lifted its holdings in shares of Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after acquiring an additional 1,295 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Globe Life by 191.4% during the 4th quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock worth $3,994,000 after acquiring an additional 21,552 shares during the period. Invesco Ltd. lifted its holdings in shares of Globe Life by 3.7% during the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after acquiring an additional 67,753 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Globe Life by 100.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 8,895 shares of the company’s stock worth $967,000 after acquiring an additional 4,449 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 7.5 %

GL opened at $60.00 on Wednesday. The firm has a 50 day moving average price of $115.35 and a 200 day moving average price of $117.58. The company has a market cap of $5.64 billion, a PE ratio of 5.95 and a beta of 0.69. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.24 earnings per share. Globe Life’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts expect that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.60%. Globe Life’s dividend payout ratio (DPR) is 9.52%.

Analyst Upgrades and Downgrades

GL has been the topic of several recent analyst reports. Truist Financial reiterated a “hold” rating and set a $125.00 price objective on shares of Globe Life in a report on Friday, April 12th. Piper Sandler cut their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI dropped their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

About Globe Life

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.