Davis R M Inc. Reduces Holdings in Globe Life Inc. (NYSE:GL)

Davis R M Inc. reduced its position in Globe Life Inc. (NYSE:GL) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 90,684 shares of the company’s stock after selling 1,664 shares during the period. Davis R M Inc. owned 0.09% of Globe Life worth $9,941,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Globe Life during the first quarter worth about $29,000. Allworth Financial LP grew 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 valued at $33,000 after purchasing an additional 178 shares during the last quarter. AM Squared Ltd acquired a new position in shares of Globe Life in the first quarter valued at approximately $44,000. ZRC Wealth Management LLC purchased a new stake in shares of Globe Life during the first quarter worth approximately $55,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Globe Life by 28.3% during the first quarter. First Horizon Advisors Inc. now owns 617 shares of the company’s stock worth $68,000 after purchasing an additional 136 shares during the period. 80.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Michael Shane Henrie sold 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $110.37, for a total transaction of $275,925.00. Following the completion of the transaction, the chief accounting officer now directly owns 700 shares in the company, valued at approximately $77,259. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Michael Shane Henrie sold 2,500 shares of Globe Life stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $110.37, for a total transaction of $275,925.00. Following the completion of the sale, the chief accounting officer now owns 700 shares in the company, valued at approximately $77,259. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 9,500 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $118.22, for a total transaction of $1,123,090.00. Following the completion of the transaction, the chief executive officer now owns 3,370 shares in the company, valued at $398,401.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,393 shares of company stock worth $7,762,969. Insiders own 4.33% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $118.00 on Tuesday. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 12.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.06 and a quick ratio of 0.06. The business’s 50 day simple moving average is $112.99 and its 200-day simple moving average is $110.99. Globe Life Inc. has a 12 month low of $102.23 and a 12 month high of $123.85.

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

Globe Life Announces Dividend

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 issued a dividend of $0.225 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.90 annualized dividend and a yield of 0.76%. Globe Life’s dividend payout ratio (DPR) is currently 9.64%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GL. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 6th. Jefferies Financial Group increased their price target 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. Wells Fargo & Company raised Globe Life from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $122.00 to $137.00 in a report on Tuesday, October 31st. StockNews.com assumed coverage on Globe Life in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Raymond James raised their price target on Globe Life from $138.00 to $160.00 and gave the company a “strong-buy” rating in a report on Monday, October 23rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.38.

Globe Life 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.