Lee Danner & Bass Inc. Purchases Shares of 625 Globe Life Inc. (NYSE:GL)

Lee Danner & Bass Inc. purchased a new stake in Globe Life Inc. (NYSE:GL) during the 4th quarter, HoldingsChannel reports. The fund purchased 625 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. iA Global Asset Management Inc. raised its holdings in shares of Globe Life by 312.9% in the 4th quarter. iA Global Asset Management Inc. now owns 11,892 shares of the company’s stock valued at $1,326,000 after acquiring an additional 9,012 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Globe Life by 44.8% in the 4th quarter. Teacher Retirement System of Texas now owns 58,309 shares of the company’s stock valued at $6,503,000 after acquiring an additional 18,043 shares in the last quarter. First National Bank of Hutchinson raised its holdings in shares of Globe Life by 3.7% in the 4th quarter. First National Bank of Hutchinson now owns 14,909 shares of the company’s stock valued at $1,663,000 after acquiring an additional 538 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Globe Life in the 4th quarter valued at about $45,000. Finally, Avalon Trust Co purchased a new stake in shares of Globe Life in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GL. Wells Fargo & Company raised their price target on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

Insider Activity at Globe Life

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on 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 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. Insiders have sold 61,338 shares of company stock worth $7,239,630 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Globe Life Price Performance

Shares of GL stock opened at $126.86 on Friday. The firm has a market cap of $10.64 billion, a P/E ratio of 10.62 and a beta of 0.77. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. The business’s 50 day moving average price is $122.53 and its 200-day moving average price is $112.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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 research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. Globe Life’s payout ratio is currently 9.04%.

About Globe Life

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.