GAMMA Investing LLC Invests $392,000 in Globe Life Inc. (NYSE:GL)

GAMMA Investing LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,192 shares of the company’s stock, valued at approximately $392,000.

Several other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Globe Life by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock valued at $230,000 after buying an additional 99 shares during the last quarter. Stonegate Investment Group LLC boosted 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. Brown Advisory Inc. grew its holdings in shares of Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after acquiring an additional 121 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after purchasing an additional 150 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

NYSE:GL traded up $5.35 during trading hours on Wednesday, hitting $81.11. 3,633,063 shares of the company were exchanged, compared to its average volume of 2,019,017. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 7.66 and a beta of 0.69. The company’s 50 day moving average price is $109.59 and its 200-day moving average price is $116.08.

Globe Life (NYSE:GL) last announced its quarterly earnings results 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 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $2.53 earnings per share. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Ratings Changes

GL has been the topic of a number of research reports. Truist Financial lowered their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Piper Sandler lowered their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company reduced their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Evercore ISI cut their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.33.

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.