Signaturefd LLC Reduces Position in Globe Life Inc. (NYSE:GL)

Signaturefd LLC trimmed its position in Globe Life Inc. (NYSE:GL) by 9.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,829 shares of the company’s stock after selling 188 shares during the period. Signaturefd LLC’s holdings in Globe Life were worth $223,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GL. CWM LLC boosted its position in Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock worth $166,000 after purchasing an additional 156 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Globe Life in the third quarter worth about $625,000. Czech National Bank boosted its position in Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,677 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Globe Life by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after purchasing an additional 476 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Globe Life by 7.8% in the third quarter. Handelsbanken Fonder AB now owns 48,958 shares of the company’s stock worth $5,323,000 after purchasing an additional 3,543 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on GL shares. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Wells Fargo & Company decreased their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler decreased their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Evercore ISI decreased their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Five 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’s stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Up 0.3 %

Shares of GL opened at $75.75 on Friday. The business’s 50 day moving average is $106.65 and its 200 day moving average is $115.30. The company has a market capitalization of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a 12-month low of $38.95 and a 12-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.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS. Research analysts expect that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Globe Life Company Profile

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.