Symmetry Partners LLC Buys New Stake in Globe Life Inc. (NYSE:GL)

Symmetry Partners LLC bought a new stake in Globe Life Inc. (NYSE:GL – Get Rating) during the 4th quarter, HoldingsChannel reports. The fund bought 1,692 shares of the company’s stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its position in Globe Life by 4.7% in the 3rd quarter. OLD National Bancorp IN now owns 6,152 shares of the company’s stock valued at $613,000 after acquiring an additional 278 shares during the period. Bridgewater Associates LP increased its position in Globe Life by 347.6% in the 2nd quarter. Bridgewater Associates LP now owns 83,174 shares of the company’s stock valued at $8,107,000 after acquiring an additional 64,592 shares during the period. Metis Global Partners LLC acquired a new stake in Globe Life in the 3rd quarter valued at approximately $205,000. Cetera Investment Advisers increased its position in shares of Globe Life by 20.7% during the 2nd quarter. Cetera Investment Advisers now owns 4,776 shares of the company’s stock valued at $466,000 after purchasing an additional 819 shares during the period. Finally, Cetera Advisor Networks LLC increased its position in shares of Globe Life by 4.8% during the 2nd quarter. Cetera Advisor Networks LLC now owns 4,966 shares of the company’s stock valued at $484,000 after purchasing an additional 226 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GL shares. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Raymond James lowered their price target on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, March 14th. Truist Financial lifted their price target on Globe Life from $112.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, February 3rd. Finally, Morgan Stanley lifted their price target on Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.14.

Insider Transactions at Globe Life

In other news, CEO Larry M. Hutchison sold 12,000 shares of the firm’s stock in a transaction on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the completion of the sale, the chief executive officer now owns 730,792 shares of the company’s stock, valued at $75,256,960.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction on Friday, December 30th. The stock was sold at an average price of $102.98, for a total transaction of $1,235,760.00. Following the completion of the sale, the chief executive officer now owns 730,792 shares of the company’s stock, valued at $75,256,960.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven John Dichiaro sold 5,000 shares of Globe Life stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $121.64, for a total value of $608,200.00. Following the sale, the insider now directly owns 8,372 shares of the company’s stock, valued at approximately $1,018,370.08. The disclosure for this sale can be found here. Insiders sold a total of 105,900 shares of company stock valued at $12,593,525 over the last quarter. Company insiders own 4.62% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE GL opened at $105.05 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 14.06 and a beta of 0.80. The stock’s fifty day simple moving average is $119.10 and its 200 day simple moving average is $114.07. Globe Life Inc. has a 52-week low of $87.87 and a 52-week high of $123.85.

Globe Life (NYSE:GL – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Globe Life had a return on equity of 15.03% and a net margin of 14.18%. Globe Life’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. As a group, sell-side analysts forecast that Globe Life Inc. will post 10.37 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 3rd will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 31st. This is a boost from Globe Life’s previous quarterly dividend of $0.21. Globe Life’s dividend payout ratio (DPR) is 11.11%.

Globe Life Company Profile

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.