IFG Advisory LLC Sells 7,445 Shares of Globe Life Inc. (NYSE:GL)

IFG Advisory LLC decreased its position in shares of Globe Life Inc. (NYSE:GL) by 38.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,769 shares of the company’s stock after selling 7,445 shares during the period. IFG Advisory LLC’s holdings in Globe Life were worth $1,433,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after acquiring an additional 1,973,186 shares during the period. Norges Bank acquired a new position in shares of Globe Life during the fourth quarter valued at about $112,989,000. Envestnet Asset Management Inc. grew its position in Globe Life by 1,085.6% during the first quarter. Envestnet Asset Management Inc. now owns 834,800 shares of the company’s stock worth $6,128,000 after buying an additional 764,390 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Globe Life by 94.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,397,674 shares of the company’s stock valued at $153,213,000 after acquiring an additional 677,778 shares during the period. Finally, Invesco Ltd. raised its holdings in Globe Life by 36.3% in the 1st quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after acquiring an additional 508,064 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GL. Evercore ISI lowered their target price on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating on the stock in a research note on Thursday, March 14th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Truist Financial lifted their price objective on Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Globe Life Trading Up 0.1 %

Shares of NYSE GL opened at $116.60 on Thursday. Globe Life Inc. has a twelve month low of $102.23 and a twelve month high of $132.00. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 11.57 and a beta of 0.70. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $122.89 and its 200-day moving average is $118.99.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. Globe Life’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.24 EPS. Equities research analysts predict that Globe Life Inc. will post 11.57 EPS for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.24 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. Globe Life’s dividend payout ratio (DPR) is presently 8.93%.

Insider Buying and Selling

In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $121.37, for a total value of $306,337.88. Following the completion of the sale, the chief marketing officer now owns 8,606 shares in the company, valued at $1,044,510.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Globe Life 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.