2,836 Shares in Globe Life Inc. (NYSE:GL) Acquired by Paloma Partners Management Co

Paloma Partners Management Co bought a new position in Globe Life Inc. (NYSE:GL) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 2,836 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds have also modified their holdings of GL. Private Trust Co. NA boosted its position in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Globe Life during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC lifted its position in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new position in Globe Life during the first quarter valued at approximately $49,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Matthew Darden acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the acquisition, the chief executive officer now directly 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. In the last quarter, insiders have purchased 8,000 shares of company stock worth $687,880. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Truist Financial upped their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley upped their price target on shares of Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.44.

Globe Life Price Performance

NYSE GL traded up $1.34 on Monday, reaching $92.03. The company’s stock had a trading volume of 1,027,129 shares, compared to its average volume of 1,938,571. Globe Life Inc. has a twelve month low of $38.95 and a twelve month 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. The stock has a market cap of $8.29 billion, a PE ratio of 8.79 and a beta of 0.81. The firm’s 50 day moving average is $83.71 and its two-hundred day moving average is $98.92.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The company 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 22.53%. Globe Life’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.61 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 11.92 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.96 annualized dividend and a yield of 1.04%. Globe Life’s payout ratio is presently 9.17%.

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.