Hantz Financial Services Inc. Buys Shares of 10,453 Globe Life Inc. (NYSE:GL)

Hantz Financial Services Inc. bought a new stake in Globe Life Inc. (NYSE:GL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,453 shares of the company’s stock, valued at approximately $860,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC acquired a new position in shares of Globe Life in the fourth quarter worth $27,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares in the last quarter. Keener Financial Planning LLC acquired a new position in shares of Globe Life in the first quarter worth $49,000. LRI Investments LLC grew its stake in shares of Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Globe Life in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Price Performance

Shares of NYSE:GL opened at $105.05 on Friday. The company has a 50-day simple moving average of $90.53 and a 200-day simple moving average of $94.65. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 10.03 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.61 earnings per share. On average, analysts predict that Globe Life Inc. will post 11.92 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GL shares. Wells Fargo & Company boosted their target price on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Piper Sandler boosted their target price on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial boosted their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.33.

Globe Life Company 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.