Globe Life Inc. (NYSE:GL) Shares Acquired by LRI Investments LLC

LRI Investments LLC lifted its position in shares of Globe Life Inc. (NYSE:GL) by 898.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 619 shares of the company’s stock after purchasing an additional 557 shares during the quarter. LRI Investments LLC’s holdings in Globe Life were worth $51,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GL. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter valued at about $27,000. Lindbrook Capital LLC lifted its stake in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares during the last quarter. Keener Financial Planning LLC acquired a new position in Globe Life during the 1st quarter worth $49,000. Finally, Principal Securities Inc. acquired a new position in shares of Globe Life in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now directly owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Shares of GL traded up $1.89 during trading hours on Friday, reaching $100.84. 897,905 shares of the company’s stock traded hands, compared to its average volume of 1,813,014. The business’s fifty day simple moving average is $88.30 and its two-hundred day simple moving average is $95.58. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 9.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $2.61 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Globe Life Inc. will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler raised their target price on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Finally, Truist Financial upped their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $108.33.

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.