ExodusPoint Capital Management LP Purchases 39,678 Shares of Globe Life Inc. (NYSE:GL)

ExodusPoint Capital Management LP raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 76.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,682 shares of the company’s stock after purchasing an additional 39,678 shares during the period. ExodusPoint Capital Management LP owned approximately 0.11% of Globe Life worth $10,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GL. Private Trust Co. NA increased its holdings in Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after buying an additional 84 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock valued at $276,000 after purchasing an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after purchasing an additional 88 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its stake in Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after buying an additional 100 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of Globe Life stock opened at $117.30 on Friday. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 9.82 and a beta of 0.60. 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’s 50-day simple moving average is $124.89 and its 200-day simple moving average is $114.70. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $133.76.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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%. As a group, analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.92%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,338 shares of company stock worth $7,239,630. Insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets assumed coverage on shares of 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. Finally, Piper Sandler boosted their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.45.

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.