Globe Life Inc. (NYSE:GL) Stock Position Increased by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC increased its position in Globe Life Inc. (NYSE:GL) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,596 shares of the company’s stock after buying an additional 638 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Globe Life were worth $1,070,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Fairvoy Private Wealth LLC acquired a new position in Globe Life in the fourth quarter worth approximately $1,367,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Globe Life by 719.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 24,225 shares of the company’s stock worth $2,702,000 after acquiring an additional 21,269 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Globe Life by 39.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,988 shares of the company’s stock worth $984,000 after acquiring an additional 2,547 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Globe Life during the fourth quarter worth $208,000. Finally, Spire Wealth Management lifted its holdings in shares of Globe Life by 144.6% during the fourth quarter. Spire Wealth Management now owns 4,066 shares of the company’s stock valued at $453,000 after purchasing an additional 2,404 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GL. Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.80.

Globe Life Trading Up 3.1 %

Shares of NYSE:GL opened at $123.63 on Monday. The firm has a fifty day moving average of $113.19 and a two-hundred day moving average of $107.12. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a market capitalization of $10.38 billion, a P/E ratio of 10.35 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, equities analysts expect that Globe Life Inc. will post 13.57 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $0.24 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. Globe Life’s payout ratio is 8.03%.

Insider Buying and Selling

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,788 shares of company stock worth $4,429,779. Insiders own 1.51% of the company’s stock.

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.