Jump Financial LLC Invests $4.34 Million in Globe Life Inc. (NYSE:GL)

Jump Financial LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 38,883 shares of the company’s stock, valued at approximately $4,336,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT bought a new position in Globe Life during the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new stake in Globe Life in the 4th quarter worth about $28,000. Avalon Trust Co bought a new stake in Globe Life in the fourth quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Down 1.3 %

Globe Life stock opened at $121.21 on Thursday. Globe Life Inc. has a twelve month low of $60.16 and a twelve month high of $133.76. The business has a fifty day moving average of $124.27 and a two-hundred day moving average of $115.47. The firm has a market cap of $10.09 billion, a P/E ratio of 10.14 and a beta of 0.60. 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 data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. Globe Life’s dividend payout ratio is presently 9.04%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler raised their price target on Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Morgan Stanley lowered their target price on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. BMO Capital Markets initiated coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $137.55.

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.