Yousif Capital Management LLC Decreases Stake in Globe Life Inc. (NYSE:GL)

Yousif Capital Management LLC reduced its position in Globe Life Inc. (NYSE:GL) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,009 shares of the company’s stock after selling 1,365 shares during the period. Yousif Capital Management LLC’s holdings in Globe Life were worth $2,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GL. CWM LLC lifted its position in shares of Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock worth $166,000 after buying an additional 156 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Globe Life during the third quarter worth approximately $625,000. Czech National Bank increased its stake in Globe Life by 44.5% during the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock worth $1,652,000 after acquiring an additional 4,677 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Globe Life by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after acquiring an additional 476 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Globe Life by 7.8% during the third quarter. Handelsbanken Fonder AB now owns 48,958 shares of the company’s stock worth $5,323,000 after acquiring an additional 3,543 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average price of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is owned by company insiders.

Globe Life Stock Up 3.2 %

Shares of NYSE:GL opened at $78.19 on Tuesday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock has a market cap of $7.35 billion, a P/E ratio of 7.47 and a beta of 0.69. The business’s 50 day moving average is $105.71 and its 200 day moving average is $115.07. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $2.53 EPS. Sell-side analysts predict that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Ratings Changes

GL has been the topic of several analyst reports. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Evercore ISI reduced their price objective 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. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Piper Sandler cut their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Company Profile

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.