Sanctuary Advisors LLC Invests $1.02 Million in Globe Life Inc. (NYSE:GL)

Sanctuary Advisors LLC purchased a new stake in Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,479 shares of the company’s stock, valued at approximately $1,021,000.

A number of other large investors have also recently added to or reduced their stakes in GL. Keener Financial Planning LLC acquired a new stake in shares of Globe Life in the 1st quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC grew its position in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Globe Life in the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. increased its holdings in shares of Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after acquiring an additional 554 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at $1,407,571. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on GL. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group increased their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Piper Sandler lifted their target price on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen began coverage on Globe Life in a research report on Wednesday. They set a “buy” rating and a $150.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $114.60.

Globe Life Stock Performance

Shares of NYSE GL opened at $107.78 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market cap of $9.68 billion, a PE ratio of 9.75 and a beta of 0.81. The stock has a 50 day simple moving average of $101.88 and a 200-day simple moving average of $91.11. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.61 earnings per share. On average, equities research analysts forecast that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life’s dividend payout ratio is presently 8.68%.

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.