Quantessence Capital LLC Invests $655,000 in Globe Life Inc. (NYSE:GL)

Quantessence Capital LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,870 shares of the company's stock, valued at approximately $655,000.

A number of other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in shares of Globe Life by 11.5% in the 4th quarter. Hsbc Holdings PLC now owns 157,584 shares of the company's stock valued at $17,524,000 after purchasing an additional 16,195 shares during the last quarter. Stifel Financial Corp increased its holdings in Globe Life by 4.0% in the fourth quarter. Stifel Financial Corp now owns 255,658 shares of the company's stock valued at $28,511,000 after buying an additional 9,728 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Globe Life by 8.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,925 shares of the company's stock valued at $661,000 after buying an additional 480 shares during the last quarter. Natixis raised its stake in Globe Life by 50.0% in the fourth quarter. Natixis now owns 6,009 shares of the company's stock valued at $670,000 after buying an additional 2,004 shares in the last quarter. Finally, Norinchukin Bank The lifted its holdings in Globe Life by 3.8% during the 4th quarter. Norinchukin Bank The now owns 3,794 shares of the company's stock worth $423,000 after buying an additional 138 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Globe Life stock traded down $0.96 during midday trading on Friday, hitting $122.96. 353,906 shares of the company's stock were exchanged, compared to its average volume of 984,626. The firm's 50 day simple moving average is $124.15 and its 200 day simple moving average is $116.27. Globe Life Inc. has a 12-month low of $71.50 and a 12-month high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 10.29 and a beta of 0.60.

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

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio is presently 9.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Finally, Piper Sandler boosted their price target on shares of 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. Based on data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $137.55.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $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 currently owned by insiders.

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.