Yousif Capital Management LLC Cuts Position in Globe Life Inc. (NYSE:GL)

Yousif Capital Management LLC lessened its position in shares of Globe Life Inc. (NYSE:GL) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,202 shares of the company’s stock after selling 422 shares during the quarter. Yousif Capital Management LLC’s holdings in Globe Life were worth $1,476,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new position in Globe Life during the 4th quarter valued at approximately $28,000. Avalon Trust Co purchased a new position in Globe Life during the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $45,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $68,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $120.54 on Tuesday. Globe Life Inc. has a 12 month low of $77.94 and a 12 month high of $133.76. The stock has a 50 day moving average of $121.09 and a two-hundred day moving average of $119.43. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.95 billion, a P/E ratio of 10.09 and a beta of 0.56.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life’s dividend payout ratio (DPR) is presently 8.79%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now owns 31,298 shares of the company’s stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GL shares. Wall Street Zen raised Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Piper Sandler dropped their target price on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lifted their price target on Globe Life from $117.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company lowered their price target on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.73.

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.