Globe Life Inc. (NYSE:GL) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,995 shares of the company’s stock after buying an additional 662 shares during the period. GAMMA Investing LLC’s holdings in Globe Life were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares during the period. Geode Capital Management LLC lifted its holdings in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after acquiring an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after acquiring an additional 277,108 shares during the last quarter. Millennium Management LLC boosted its position in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC grew its stake in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after purchasing an additional 693,346 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

Shares of GL opened at $111.51 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $9.36 billion, a PE ratio of 9.43 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 firm’s 50 day moving average price is $108.37 and its 200 day moving average price is $101.19.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Globe Life’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 EPS. As a group, research analysts expect that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GL shares. Piper Sandler raised their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.51% of the company’s stock.

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.