Spire Wealth Management Has $453,000 Stock Holdings in Globe Life Inc. (NYSE:GL)

Spire Wealth Management grew its position in Globe Life Inc. (NYSE:GL) by 144.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,066 shares of the company’s stock after buying an additional 2,404 shares during the period. Spire Wealth Management’s holdings in Globe Life were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GL. Versant Capital Management Inc lifted its holdings in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Globe Life during the fourth quarter worth about $28,000. Riverview Trust Co bought a new position in shares of Globe Life during the 3rd quarter valued at about $32,000. True Wealth Design LLC acquired a new position in shares of Globe Life in the 3rd quarter valued at approximately $59,000. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.4 %

GL stock opened at $122.93 on Thursday. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The business has a 50 day moving average price of $112.78 and a two-hundred day moving average price of $106.53. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Analysts anticipate that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. Globe Life’s dividend payout ratio is presently 8.12%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Raymond James lifted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $132.18.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is owned by company insiders.

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.