Fairvoy Private Wealth LLC Invests $1.37 Million in Globe Life Inc. (NYSE:GL)

Fairvoy Private Wealth LLC purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,262 shares of the company's stock, valued at approximately $1,367,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GL. State Street Corp increased its holdings in Globe Life by 3.4% during 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 grew its holdings in shares of Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after purchasing an additional 89,299 shares during 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 third 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 buying an additional 277,108 shares in the last quarter. Nuance Investments LLC raised its holdings in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company's stock worth $106,835,000 after buying an additional 78,354 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were 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 approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last three months. Insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GL. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Morgan Stanley increased their price objective on shares of Globe Life from $123.00 to $125.00 and gave the company an "equal weight" rating in a report on Tuesday. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price target on Globe Life from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Finally, BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $132.30.

Globe Life Stock Performance

Shares of Globe Life stock traded down $1.14 on Tuesday, hitting $121.11. The stock had a trading volume of 261,489 shares, compared to its average volume of 565,154. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 10.13 and a beta of 0.81. 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 twelve month low of $38.95 and a twelve month high of $132.00. The business's 50 day moving average is $113.44 and its two-hundred day moving average is $107.35.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS 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%. Analysts forecast that Globe Life Inc. will post 13.57 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.79%. Globe Life's dividend payout ratio is currently 8.03%.

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.