IFG Advisory LLC Reduces Holdings in Globe Life Inc. (NYSE:GL)

IFG Advisory LLC cut its holdings in Globe Life Inc. (NYSE:GL) by 38.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,769 shares of the company’s stock after selling 7,445 shares during the period. IFG Advisory LLC’s holdings in Globe Life were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GL. SG Americas Securities LLC boosted its position in shares of Globe Life by 191.4% during the 4th quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock valued at $3,994,000 after acquiring an additional 21,552 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Globe Life by 3.7% during the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after acquiring an additional 67,753 shares during the last quarter. iA Global Asset Management Inc. grew its position in Globe Life by 100.1% in the third quarter. iA Global Asset Management Inc. now owns 8,895 shares of the company’s stock worth $967,000 after acquiring an additional 4,449 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Globe Life by 7.0% in the third quarter. First Trust Direct Indexing L.P. now owns 2,985 shares of the company’s stock valued at $325,000 after acquiring an additional 195 shares during the last quarter. Finally, Barclays PLC raised its position in Globe Life by 48.0% during the third quarter. Barclays PLC now owns 254,116 shares of the company’s stock valued at $27,632,000 after purchasing an additional 82,367 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial increased their target price on shares of Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, Evercore ISI lowered their price target on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating for the company in a research note on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Buying and Selling

In related news, CMO Jennifer Allison Haworth sold 2,524 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $121.37, for a total value of $306,337.88. Following the completion of the transaction, the chief marketing officer now directly owns 8,606 shares in the company, valued at approximately $1,044,510.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.51% of the stock is owned by insiders.

Globe Life Trading Up 0.1 %

GL opened at $116.60 on Thursday. Globe Life Inc. has a one year low of $102.23 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day simple moving average of $122.89 and a two-hundred day simple moving average of $118.99. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 11.57 and a beta of 0.70.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. Analysts predict that Globe Life Inc. will post 11.57 EPS for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. Globe Life’s dividend payout ratio is 8.93%.

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.