&Partners Makes New Investment in Globe Life Inc. (NYSE:GL)

&Partners acquired a new stake in Globe Life Inc. (NYSE:GL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,775 shares of the company’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also modified their holdings of GL. NBC Securities Inc. boosted its stake in Globe Life by 2.7% in the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after acquiring an additional 167 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares during the period. Perigon Wealth Management LLC increased its position in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after purchasing an additional 184 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its stake in Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In other Globe Life news, EVP Robert Edward Hensley purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the purchase, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the purchase, the executive vice president now owns 7,290 shares in the company, valued at $599,019.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary E. Thigpen acquired 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The shares were bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GL. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 price objective (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Jefferies Financial Group raised their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Evercore ISI lifted their price objective on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Piper Sandler increased their target price on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five investment 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 company. According to MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $108.33.

Globe Life Stock Up 1.9 %

NYSE GL opened at $100.84 on Monday. 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 Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a 50 day moving average price of $88.30 and a two-hundred day moving average price of $95.21. The stock has a market cap of $9.08 billion, a PE ratio of 9.63 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.61 earnings per share. As a group, sell-side analysts predict that Globe Life Inc. will post 11.92 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. Globe Life’s dividend payout ratio is presently 9.17%.

Globe Life Profile

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.