Janney Montgomery Scott LLC Makes New $2.72 Million Investment in Globe Life Inc. (NYSE:GL)

Janney Montgomery Scott LLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 22,317 shares of the company’s stock, valued at approximately $2,716,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. California Public Employees Retirement System grew its position in Globe Life by 169.4% in the fourth quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after acquiring an additional 304,942 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Globe Life by 141.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after purchasing an additional 273,515 shares in the last quarter. Nuance Investments LLC bought a new position in Globe Life in the 4th quarter valued at approximately $30,560,000. Vanguard Group Inc. boosted its position in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after buying an additional 181,824 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Globe Life by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after buying an additional 168,127 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GL. JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company reduced their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a report on Tuesday. Truist Financial cut their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Evercore ISI decreased their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.33.

Insiders Place Their Bets

In related news, CFO Thomas Peter Kalmbach purchased 500 shares of Globe Life stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of Globe Life stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the purchase, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. In the last three months, insiders have acquired 4,000 shares of company stock worth $331,435. Corporate insiders own 1.51% of the company’s stock.

Globe Life Trading Up 1.5 %

NYSE:GL opened at $81.74 on Friday. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s fifty day moving average is $90.03 and its 200-day moving average is $111.05. The firm has a market cap of $7.54 billion, a P/E ratio of 7.81 and a beta of 0.78.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company posted $2.53 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, July 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

About Globe Life

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.