Sequoia Financial Advisors LLC Grows Stock Position in Globe Life Inc. (NYSE:GL)

Sequoia Financial Advisors LLC raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 72.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,637 shares of the company’s stock after purchasing an additional 1,526 shares during the period. Sequoia Financial Advisors LLC’s holdings in Globe Life were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. Nisa Investment Advisors LLC increased its position in Globe Life by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock worth $4,548,000 after buying an additional 397 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Globe Life during the 4th quarter worth about $217,000. Stratos Wealth Advisors LLC purchased a new stake in Globe Life during the 4th quarter worth about $227,000. Private Trust Co. NA raised its stake in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Globe Life by 5.2% in the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GL. Keefe, Bruyette & Woods lowered their price target on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company cut their price target on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Piper Sandler decreased their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. JPMorgan Chase & Co. upped their target price on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Truist Financial reiterated a “hold” rating and set a $125.00 target price on shares of Globe Life in a research report on Friday, April 12th. Five equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.44.

Globe Life Trading Up 5.4 %

Shares of GL opened at $63.23 on Thursday. The stock’s fifty day simple moving average is $114.17 and its 200 day simple moving average is $117.20. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.95 billion, a P/E ratio of 6.27 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $2.24 EPS. On average, equities research analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.52%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is 9.52%.

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.