Diametric Capital LP Purchases Shares of 3,341 Globe Life Inc. (NYSE:GL)

Diametric Capital LP bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,341 shares of the company's stock, valued at approximately $373,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after acquiring an additional 194 shares during the period. Albion Financial Group UT acquired a new stake in shares of Globe Life during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the fourth quarter worth $28,000. Avalon Trust Co purchased a new position in Globe Life in the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by insiders.

Remove Ads

Globe Life Price Performance

Globe Life stock traded down $5.76 during trading hours on Thursday, hitting $127.33. The stock had a trading volume of 796,920 shares, compared to its average volume of 1,416,636. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 10.66 and a beta of 0.77. 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 1-year low of $38.95 and a 1-year high of $135.00. The stock's fifty day moving average is $124.93 and its two-hundred day moving average is $114.63.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. As a group, analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio is presently 9.04%.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price objective on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.45.

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.