Buck Wealth Strategies LLC Makes New $665,000 Investment in Globe Life Inc. $GL

Buck Wealth Strategies LLC purchased a new stake in Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,651 shares of the company’s stock, valued at approximately $665,000.

A number of other institutional investors and hedge funds have also modified their holdings of GL. Synergy Asset Management LLC lifted its position in shares of Globe Life by 1,022.7% in the 3rd quarter. Synergy Asset Management LLC now owns 100,603 shares of the company’s stock worth $14,240,000 after acquiring an additional 91,642 shares during the period. SteelPeak Wealth LLC bought a new position in Globe Life in the third quarter worth $2,985,000. Inspire Investing LLC acquired a new stake in Globe Life during the third quarter worth $1,062,000. MGO One Seven LLC acquired a new stake in Globe Life during the third quarter worth $1,364,000. Finally, Rakuten Investment Management Inc. bought a new stake in Globe Life in the 3rd quarter valued at $9,064,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 9,379 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the completion of the sale, the chief executive officer owned 35,868 shares in the company, valued at approximately $5,036,943.24. The trade was a 20.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $176.00 target price on shares of Globe Life in a research report on Monday, December 15th. Wells Fargo & Company decreased their price objective on Globe Life from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Weiss Ratings cut Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 14th. Evercore ISI downgraded Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 target price for the company. in a research report on Tuesday, January 6th. Finally, Truist Financial upped their price target on Globe Life from $150.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.22.

Globe Life Stock Performance

GL stock opened at $143.34 on Tuesday. The company has a 50 day moving average price of $138.53 and a 200 day moving average price of $137.52. Globe Life Inc. has a fifty-two week low of $109.38 and a fifty-two week high of $147.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $11.41 billion, a PE ratio of 10.39 and a beta of 0.48.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, January 5th. Globe Life’s dividend payout ratio is currently 7.83%.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.