Corient Private Wealth LLC Purchases 337,836 Shares of Globe Life Inc. (NYSE:GL)

Corient Private Wealth LLC raised its stake in Globe Life Inc. (NYSE:GL) by 1,367.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,535 shares of the company’s stock after acquiring an additional 337,836 shares during the period. Corient Private Wealth LLC’s holdings in Globe Life were worth $44,128,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Private Trust Co. NA lifted its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new position in Globe Life during the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in Globe Life during the 4th quarter valued at approximately $28,000. 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 valued at $29,000 after buying an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in 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 in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO James Matthew Darden acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Globe Life news, CEO James Matthew Darden purchased 2,000 shares of Globe Life stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders purchased a total of 4,000 shares of company stock valued at $331,435 in the last quarter. 1.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Wells Fargo & Company dropped their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Evercore ISI dropped 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 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. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Performance

Globe Life stock traded up $2.50 during trading hours on Wednesday, hitting $85.83. 434,620 shares of the stock traded hands, compared to its average volume of 2,180,527. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s 50 day moving average price is $92.09 and its 200-day moving average price is $111.69. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 7.96 and a beta of 0.78. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last posted 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). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 EPS. As a group, equities analysts expect that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed 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 1.12%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

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.