Ingalls & Snyder LLC Cuts Stake in Globe Life Inc. (NYSE:GL)

Ingalls & Snyder LLC lessened its stake in Globe Life Inc. (NYSE:GL) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,571 shares of the company’s stock after selling 235 shares during the quarter. Ingalls & Snyder LLC owned 0.20% of Globe Life worth $18,353,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares during the period. Principal Financial Group Inc. raised its stake in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing an additional 8,663 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Globe Life during the fourth quarter worth approximately $487,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after buying an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Globe Life by 56.0% in the fourth quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,662 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,678 shares of company stock worth $7,454,412. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler boosted their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Globe Life Stock Up 0.0 %

Shares of GL stock opened at $121.51 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 cap of $10.20 billion, a PE ratio of 10.17 and a beta of 0.81. The stock has a 50 day moving average of $113.98 and a 200-day moving average of $107.66. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, equities analysts predict that Globe Life Inc. will post 13.57 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid 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 0.79%. Globe Life’s payout ratio is 8.03%.

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.