Fairvoy Private Wealth LLC Takes Position in Globe Life Inc. (NYSE:GL)

Fairvoy Private Wealth LLC purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,262 shares of the company’s stock, valued at approximately $1,367,000.

Several other hedge funds have also recently bought and sold shares of GL. Versant Capital Management Inc grew its stake in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in Globe Life during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in Globe Life in the 3rd quarter valued at about $32,000. True Wealth Design LLC bought a new stake in shares of Globe Life during the third quarter worth $59,000. Finally, Private Trust Co. NA lifted its holdings in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after buying an additional 270 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.18.

Globe Life Stock Performance

NYSE:GL opened at $119.97 on Friday. The stock’s fifty day moving average is $112.95 and its 200 day moving average is $106.62. 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 capitalization of $10.07 billion, a PE ratio of 10.15 and a beta of 0.81. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. On average, sell-side analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by corporate insiders.

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.