Globe Life Inc. (NYSE:GL) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership trimmed its position in shares of Globe Life Inc. (NYSE:GL) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 743,740 shares of the company’s stock after selling 35,618 shares during the period. Artisan Partners Limited Partnership owned 0.78% of Globe Life worth $81,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GL. Sunbelt Securities Inc. acquired a new stake in shares of Globe Life in the 1st quarter worth approximately $29,000. Allworth Financial LP lifted its stake in shares of Globe Life by 144.7% in the 2nd quarter. Allworth Financial LP now owns 301 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the period. AM Squared Ltd acquired a new stake in shares of Globe Life in the 1st quarter worth approximately $44,000. ZRC Wealth Management LLC acquired a new stake in shares of Globe Life in the 1st quarter worth approximately $55,000. Finally, Desjardins Global Asset Management Inc. acquired a new stake in shares of Globe Life in the 1st quarter worth approximately $59,000. 80.04% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

GL stock opened at $118.30 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.67 and a beta of 0.78. Globe Life Inc. has a 12 month low of $102.23 and a 12 month high of $123.85. The firm has a 50 day moving average of $112.81 and a two-hundred day moving average of $110.85.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 25th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.65 by $0.06. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Globe Life had a net margin of 16.95% and a return on equity of 22.60%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 earnings per share. As a group, equities analysts anticipate that Globe Life Inc. will post 10.6 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, January 4th. Globe Life’s dividend payout ratio is 9.64%.

Insiders Place Their Bets

In related news, CAO Michael Shane Henrie sold 6,800 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $117.57, for a total transaction of $799,476.00. Following the completion of the sale, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at approximately $82,299. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Michael Shane Henrie sold 6,800 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $117.57, for a total transaction of $799,476.00. Following the completion of the sale, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at approximately $82,299. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Brian Mitchell sold 16,217 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $111.97, for a total transaction of $1,815,817.49. Following the sale, the executive vice president now directly owns 36,635 shares of the company’s stock, valued at $4,102,020.95. The disclosure for this sale can be found here. Insiders sold 57,893 shares of company stock valued at $6,639,879 over the last ninety days. Corporate insiders own 4.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Globe Life from $130.00 to $131.00 in a report on Friday, July 28th. Wells Fargo & Company upgraded shares of Globe Life from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $122.00 to $137.00 in a report on Tuesday, October 31st. Jefferies Financial Group boosted their target price on shares of Globe Life from $115.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, September 14th. Raymond James boosted their target price on shares of Globe Life from $138.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Monday, October 23rd. Finally, Morgan Stanley boosted their target price on shares of Globe Life from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Wednesday. Four 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.38.

Globe Life Company Profile

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.