GSA Capital Partners LLP Buys Shares of 6,843 Globe Life Inc. (NYSE:GL)

GSA Capital Partners LLP bought a new stake in Globe Life Inc. (NYSE:GL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,843 shares of the company’s stock, valued at approximately $796,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Central Pacific Bank Trust Division bought a new stake in shares of Globe Life in the 1st quarter worth approximately $82,000. FORA Capital LLC lifted its position in shares of Globe Life by 21.4% in the 1st quarter. FORA Capital LLC now owns 6,116 shares of the company’s stock worth $712,000 after acquiring an additional 1,080 shares during the period. Nordea Investment Management AB lifted its position in shares of Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after acquiring an additional 989,319 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Globe Life in the 1st quarter worth approximately $143,000. Finally, BNP Paribas bought a new stake in shares of Globe Life in the 1st quarter worth approximately $976,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity

In other news, EVP Robert Edward Hensley bought 2,500 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $82.17 per share, with a total value of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Robert Edward Hensley acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the purchase, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. In the last ninety days, insiders bought 6,500 shares of company stock valued at $536,860. Company insiders own 1.51% of the company’s stock.

Globe Life Trading Up 2.5 %

Shares of GL opened at $85.23 on Friday. The stock has a fifty day moving average price of $82.89 and a two-hundred day moving average price of $101.95. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 8.14 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. 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 (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share. Analysts predict that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 1.13%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GL. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Jefferies Financial Group raised their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Morgan Stanley raised their target price on Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.22.

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.