7,846 Shares in Globe Life Inc. (NYSE:GL) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,846 shares of the company's stock, valued at approximately $830,000.

A number of other large investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its stake in shares of Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after buying an additional 859,146 shares in the last quarter. Bank of New York Mellon Corp grew its position in Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after acquiring an additional 822,638 shares in the last quarter. Millennium Management LLC increased its stake in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after acquiring an additional 817,760 shares during the last quarter. Nuance Investments LLC raised its position in Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock valued at $120,629,000 after purchasing an additional 693,346 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in shares of Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock valued at $76,552,000 after purchasing an additional 552,634 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.51% of the company's stock.

Globe Life Stock Down 0.5 %

GL stock traded down $0.56 during trading on Thursday, hitting $104.51. 608,240 shares of the company's stock traded hands, compared to its average volume of 1,464,188. The firm has a market capitalization of $8.77 billion, a P/E ratio of 8.84 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. 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 business has a fifty day simple moving average of $108.08 and a two-hundred day simple moving average of $97.83.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. Sell-side analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, January 6th. Globe Life's dividend payout ratio is currently 8.12%.

Wall Street Analyst Weigh In

GL has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday. Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $127.10.

Globe Life Company 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.