2,453 Shares in Globe Life Inc. (NYSE:GL) Acquired by Team Hewins LLC

26 May 2024, 14:40 by Mitch Edgeman · The Markets Daily

Team Hewins LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,453 shares of the company’s stock, valued at approximately $299,000.

A number of other institutional investors have also added to or reduced their stakes in GL. Lindbrook Capital LLC grew its holdings in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after acquiring an additional 99 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in Globe Life by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after acquiring an additional 116 shares during the last quarter. Tectonic Advisors LLC grew its holdings in Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after acquiring an additional 150 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 1.5 %

NYSE GL traded up $1.19 on Friday, hitting $81.74. 1,410,898 shares of the company were exchanged, compared to its average volume of 2,645,949. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $90.03 and a 200-day moving average of $111.03. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market cap of $7.54 billion, a PE ratio of 7.81 and a beta of 0.78.

Globe Life (NYSE:GL – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $2.53 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.17%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares in the company, valued at $334,186.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. Insiders bought a total of 4,000 shares of company stock worth $331,435 over the last quarter. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Truist Financial reduced their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $114.33.

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