Bryce Point Capital LLC Purchases New Position in Globe Life Inc. (NYSE:GL)

Bryce Point Capital LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,955 shares of the company's stock, valued at approximately $1,779,000. Globe Life accounts for approximately 0.5% of Bryce Point Capital LLC's investment portfolio, making the stock its 27th largest holding.

A number of other large investors also recently modified their holdings of GL. Versant Capital Management Inc boosted its stake in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Globe Life in the 4th quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in shares of Globe Life in the fourth quarter valued at $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on GL shares. Morgan Stanley raised their price objective on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price objective 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. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $138.45.

Globe Life Stock Down 3.3 %

GL traded down $3.91 during trading on Monday, reaching $113.31. 524,196 shares of the stock traded hands, compared to its average volume of 649,702. 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 fifty-two week low of $38.95 and a fifty-two week high of $133.76. The stock's 50-day simple moving average is $124.89 and its two-hundred day simple moving average is $114.82. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 9.48 and a beta of 0.60.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio (DPR) is currently 9.04%.

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.