DMC Group LLC Increases Stake in Globe Life Inc. (NYSE:GL)

DMC Group LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 45.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,194 shares of the company’s stock after purchasing an additional 993 shares during the quarter. DMC Group LLC’s holdings in Globe Life were worth $356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GL. State Street Corp boosted its position in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. boosted its holdings in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after acquiring an additional 8,663 shares during the period. Merit Financial Group LLC acquired a new stake in Globe Life in the fourth quarter valued at approximately $487,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after purchasing an additional 9,141 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Globe Life by 2.9% during the third quarter. Stifel Financial Corp now owns 245,930 shares of the company’s stock valued at $26,046,000 after purchasing an additional 6,935 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $122.09 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s 50-day moving average is $111.62 and its 200-day moving average is $105.33. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 10.33 and a beta of 0.80.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Insider Activity

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,788 shares of company stock worth $4,429,779. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GL shares. TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.18.

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.