Focus Partners Wealth Sells 12,276 Shares of Globe Life Inc. (NYSE:GL)

Focus Partners Wealth cut its stake in shares of Globe Life Inc. (NYSE:GL) by 60.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,903 shares of the company’s stock after selling 12,276 shares during the quarter. Focus Partners Wealth’s holdings in Globe Life were worth $881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GL. Albion Financial Group UT purchased a new stake in shares of Globe Life during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in Globe Life in the fourth quarter valued at about $28,000. Avalon Trust Co purchased a new stake in Globe Life in the fourth quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its stake in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. Finally, Platinum Investment Management Ltd. acquired a new stake in Globe Life during the 4th quarter worth approximately $45,000. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler lowered their price target on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.00.

Globe Life Stock Performance

GL stock opened at $121.87 on Monday. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 10.20 and a beta of 0.56. Globe Life Inc. has a 12 month low of $76.55 and a 12 month high of $133.76. The firm has a 50 day moving average of $123.20 and a two-hundred day moving average of $117.73. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.78 earnings per share. As a group, equities analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life’s dividend payout ratio is 8.79%.

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.