Savant Capital LLC Grows Stock Position in Globe Life Inc. (NYSE:GL)

Savant Capital LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,045 shares of the company’s stock after acquiring an additional 149 shares during the period. Savant Capital LLC’s holdings in Globe Life were worth $6,250,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Nuance Investments LLC increased its stake in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Globe Life by 8.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after purchasing an additional 78,354 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. 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. Finally, Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $131.80.

Globe Life Stock Performance

NYSE:GL opened at $122.29 on Tuesday. The firm has a market capitalization of $10.26 billion, a PE ratio of 10.23 and a beta of 0.81. The business’s fifty day moving average price is $113.44 and its 200 day moving average price is $107.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

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 the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, sell-side analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 yield of 0.79%. Globe Life’s dividend payout ratio is presently 8.03%.

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.