Rafferty Asset Management LLC Has $3.70 Million Stock Position in Globe Life Inc. (NYSE:GL)

Rafferty Asset Management LLC raised its holdings in shares of Globe Life Inc. (NYSE:GLFree Report) by 4.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,364 shares of the company’s stock after buying an additional 1,188 shares during the quarter. Rafferty Asset Management LLC’s holdings in Globe Life were worth $3,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Globe Life by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock valued at $230,000 after buying an additional 99 shares during the period. Stonegate Investment Group LLC raised its stake in shares of Globe Life by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after buying an additional 116 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after acquiring an additional 150 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of Globe Life stock opened at $81.40 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50 day simple moving average of $83.87 and a 200 day simple moving average of $108.92. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market cap of $7.51 billion, a P/E ratio of 7.77 and a beta of 0.81.

Globe Life (NYSE:GLGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 18.07% and a return on equity of 23.01%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. Sell-side analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.24 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. Globe Life’s payout ratio is 9.17%.

Insiders Place Their Bets

In other Globe Life news, CFO Thomas Peter Kalmbach bought 500 shares of Globe Life stock in a transaction dated Friday, May 17th. The shares were bought at an average price of $84.43 per share, with a total value of $42,215.00. Following the purchase, the chief financial officer now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO James Matthew Darden purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Peter Kalmbach acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average cost 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 $1,526,494.40. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,500 shares of company stock valued at $536,860. 1.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GL. Piper Sandler decreased their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their price target for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. Truist Financial decreased their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Evercore ISI dropped their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $114.33.

Read Our Latest Research Report on GL

Globe Life Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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