Mount Yale Investment Advisors LLC Sells 255 Shares of Globe Life Inc. (NYSE:GL)

Mount Yale Investment Advisors LLC decreased its stake in shares of Globe Life Inc. (NYSE:GL) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,195 shares of the company’s stock after selling 255 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Globe Life were worth $263,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after acquiring an additional 7,100 shares in the last quarter. Quadrature Capital Ltd increased its position in Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after purchasing an additional 15,862 shares during the period. Savant Capital LLC raised its holdings in shares of Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after purchasing an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after purchasing an additional 17,878 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GL has been the topic of several research reports. Truist Financial lifted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley boosted their price target on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Wells Fargo & Company upped their price objective on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Finally, Piper Sandler increased their price target on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.33.

Insider Activity

In other news, Director Mary E. Thigpen bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

GL opened at $108.12 on Wednesday. The firm’s 50-day moving average price is $97.83 and its 200-day moving average price is $91.85. The company has a market cap of $9.74 billion, a P/E ratio of 10.33 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $2.61 earnings per share. As a group, equities analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 yield of 0.89%. Globe Life’s 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.