Albion Financial Group UT Invests $28,000 in Globe Life Inc. (NYSE:GL)

Albion Financial Group UT purchased a new stake in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 251 shares of the company’s stock, valued at approximately $28,000.

A number of other large investors have also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. raised its holdings in shares of Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after buying an additional 859,146 shares during the last quarter. Millennium Management LLC raised its stake in 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 acquiring an additional 817,760 shares during the last quarter. Nuance Investments LLC lifted its position in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the period. International Assets Investment Management LLC lifted its position in Globe Life by 15,398.7% during the 3rd quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after acquiring an additional 334,459 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 purchasing an additional 277,108 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $120.59 on Thursday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 10.20 and a beta of 0.80. The business’s 50 day simple moving average is $110.49 and its 200-day simple moving average is $104.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 earnings per share. As a group, equities analysts forecast that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.80%. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analyst Weigh In

GL has been the subject of several recent research reports. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. TD Cowen assumed coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.00.

Insiders Place Their Bets

In related news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,788 shares of company stock worth $4,429,779. Insiders own 1.51% of the company’s stock.

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.