Verition Fund Management LLC Makes New $609,000 Investment in Globe Life Inc. (NYSE:GL)

Verition Fund Management LLC acquired a new position in shares of Globe Life Inc. (NYSE:GLGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,057 shares of the company’s stock, valued at approximately $609,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Walleye Capital LLC bought a new position in Globe Life during the 1st quarter worth $385,000. EP Wealth Advisors LLC bought a new position in shares of Globe Life in the 1st quarter valued at $229,000. The Manufacturers Life Insurance Company increased its stake in shares of Globe Life by 3.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 75,268 shares of the company’s stock valued at $7,572,000 after purchasing an additional 2,444 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Globe Life by 116.9% in the 1st quarter. Wealthfront Advisers LLC now owns 18,804 shares of the company’s stock valued at $1,891,000 after purchasing an additional 10,134 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Globe Life by 563.9% in the 1st quarter. Jane Street Group LLC now owns 52,439 shares of the company’s stock valued at $5,275,000 after purchasing an additional 44,540 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

Insider Activity

In other news, CAO Michael Shane Henrie sold 800 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $100.64, for a total value of $80,512.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Steven John Dichiaro sold 10,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $102.30, for a total value of $1,023,000.00. Following the completion of the sale, the insider now directly owns 8,372 shares of the company’s stock, valued at approximately $856,455.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Shane Henrie sold 800 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.64, for a total value of $80,512.00. The disclosure for this sale can be found here. Insiders have sold 66,963 shares of company stock valued at $6,924,008 in the last ninety days. 4.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GL shares. Raymond James started coverage on Globe Life in a research note on Wednesday. They issued a “strong-buy” rating and a $138.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Globe Life from $108.00 to $112.00 in a research report on Monday, July 11th. Piper Sandler boosted their price objective on Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, July 8th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $112.00 in a research report on Wednesday, June 15th. Finally, Morgan Stanley boosted their price objective on Globe Life from $109.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.25.

Globe Life Stock Down 0.9 %

Shares of GL opened at $102.80 on Friday. The company has a market capitalization of $10.02 billion, a PE ratio of 14.62 and a beta of 0.88. Globe Life Inc. has a 12 month low of $85.25 and a 12 month high of $108.61. The stock’s 50-day moving average price is $100.57 and its two-hundred day moving average price is $99.14. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GLGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 9.90% and a net margin of 13.68%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, October 6th. Globe Life’s dividend payout ratio is 11.81%.

Globe Life Profile

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Further Reading

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GLGet Rating).

Institutional Ownership by Quarter for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.