Mariner LLC Buys 2,733 Shares of Globe Life Inc. (NYSE:GL)

Mariner LLC grew its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,355 shares of the company's stock after acquiring an additional 2,733 shares during the period. Mariner LLC's holdings in Globe Life were worth $3,497,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings 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 buying an additional 194 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Globe Life during the 4th quarter worth about $28,000. Albion Financial Group UT purchased a new position in shares of Globe Life during the 4th quarter worth $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GL. Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley cut their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company cut their target price on Globe Life from $141.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler raised their price target on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.55.

Globe Life Price Performance

Shares of NYSE GL traded down $0.91 during midday trading on Friday, reaching $123.01. 239,927 shares of the company were exchanged, compared to its average volume of 997,095. The stock's 50-day moving average price is $124.17 and its 200-day moving average price is $116.14. Globe Life Inc. has a one year low of $71.50 and a one year high of $133.76. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.24 billion, a P/E ratio of 10.29 and a beta of 0.60.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. Globe Life's payout ratio is 9.04%.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Company insiders own 1.51% of the company's stock.

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.