GAMMA Investing LLC Takes $392,000 Position in Globe Life Inc. (NYSE:GL)

GAMMA Investing LLC bought a new position in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,192 shares of the company’s stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GL. Private Trust Co. NA grew its holdings in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new position in Globe Life in the fourth quarter worth approximately $28,000. Lindbrook Capital LLC lifted its holdings in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the period. First Command Advisory Services Inc. purchased a new position in shares of Globe Life in the 3rd quarter valued at $61,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Globe Life in the 4th quarter worth $63,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Performance

NYSE GL traded up $5.35 on Wednesday, hitting $81.11. 3,633,063 shares of the company’s stock traded hands, compared to its average volume of 2,019,017. The firm’s 50-day moving average price is $109.59 and its two-hundred day moving average price is $116.08. The firm has a market capitalization of $7.63 billion, a PE ratio of 7.66 and a beta of 0.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last posted its 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 net margin of 18.07% and a return on equity of 23.91%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 earnings per share. As a group, analysts expect that Globe Life Inc. will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lowered their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $130.00 to $110.00 in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Truist Financial dropped their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

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.