Ballentine Partners LLC Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Ballentine Partners LLC lowered its position in shares of Globe Life Inc. (NYSE:GL) by 90.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,767 shares of the company’s stock after selling 16,831 shares during the period. Ballentine Partners LLC’s holdings in Globe Life were worth $206,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GL. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life during the 4th quarter worth approximately $27,000. Private Trust Co. NA raised its stake in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Globe Life in the fourth quarter valued at $28,000. Lindbrook Capital LLC boosted its stake in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Matthew Darden bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction 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 directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Matthew Darden bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders have acquired 6,500 shares of company stock valued at $536,860 over the last quarter. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Down 0.3 %

Shares of Globe Life stock opened at $83.24 on Thursday. The company has a market cap of $7.68 billion, a P/E ratio of 7.95 and a beta of 0.81. The firm has a fifty day moving average of $81.07 and a two-hundred day moving average of $104.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.15%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GL. Evercore ISI boosted their target price on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday. Truist Financial decreased their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Wells Fargo & Company reduced their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.56.

Globe Life 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.