US Asset Management LLC Reduces Position in Globe Life Inc. (NYSE:GL)

US Asset Management LLC lessened its position in shares of Globe Life Inc. (NYSE:GLFree Report) by 2.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,007 shares of the company’s stock after selling 185 shares during the quarter. Globe Life comprises 0.9% of US Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. US Asset Management LLC’s holdings in Globe Life were worth $1,048,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew 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 acquiring an additional 92 shares during the period. Stonegate Investment Group LLC lifted its stake in shares of Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares in the last quarter. Tectonic Advisors LLC lifted its stake in shares of Globe Life by 5.3% during the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Globe Life by 2.7% during the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE:GL traded up $2.17 during trading on Thursday, hitting $82.57. 1,250,339 shares of the company traded hands, compared to its average volume of 2,132,179. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 7.68 and a beta of 0.81. The business’s fifty day moving average is $78.49 and its 200-day moving average is $106.29. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GLGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 EPS. As a group, equities analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is currently 9.17%.

Analyst Ratings Changes

A number of brokerages have commented on GL. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Piper Sandler cut their price target on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Truist Financial cut their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given 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 $114.33.

Check Out Our Latest Stock Report on GL

Insider Buying and Selling

In related news, EVP Robert Edward Hensley acquired 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Globe Life news, EVP Robert Edward Hensley purchased 2,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $82.17 per share, with a total value of $205,425.00. Following the acquisition, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Matthew Darden purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $84.82 per share, with a total value of $169,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders purchased 6,500 shares of company stock valued at $536,860 over the last 90 days. 1.51% of the stock is currently owned by company insiders.

Globe Life Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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