Quadrature Capital Ltd Has $2.60 Million Stake in Globe Life Inc. (NYSE:GL)

Quadrature Capital Ltd decreased its holdings in shares of Globe Life Inc. (NYSE:GL) by 42.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,324 shares of the company’s stock after selling 16,461 shares during the quarter. Quadrature Capital Ltd’s holdings in Globe Life were worth $2,599,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Globe Life by 9.8% during the third quarter. American Century Companies Inc. now owns 46,600 shares of the company’s stock worth $5,067,000 after acquiring an additional 4,157 shares in the last quarter. HB Wealth Management LLC bought a new stake in Globe Life during the fourth quarter worth $217,000. Raymond James & Associates raised its position in Globe Life by 33.6% during the fourth quarter. Raymond James & Associates now owns 233,917 shares of the company’s stock worth $28,472,000 after acquiring an additional 58,806 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Globe Life by 43.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 74,254 shares of the company’s stock worth $9,038,000 after acquiring an additional 22,509 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after acquiring an additional 27,908 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Globe Life stock traded up $1.61 during midday trading on Friday, hitting $90.69. The company’s stock had a trading volume of 998,446 shares, compared to its average volume of 911,533. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The company has a 50-day moving average price of $83.59 and a two-hundred day moving average price of $99.27. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 8.66 and a beta of 0.81.

Globe Life (NYSE:GL) last issued 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. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Edward Hensley purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders have bought a total of 8,000 shares of company stock valued at $687,880 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GL. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Keefe, Bruyette & Woods upgraded shares of 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 note on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group raised their target price 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. Finally, Morgan Stanley raised their target price on shares of Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $105.44.

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.