GAMMA Investing LLC Purchases 941 Shares of Globe Life Inc. (NYSE:GL)

GAMMA Investing LLC increased its position in Globe Life Inc. (NYSE:GL) by 18.8% during the first quarter, Holdings Channel reports. The firm owned 5,936 shares of the company’s stock after buying an additional 941 shares during the quarter. GAMMA Investing LLC’s holdings in Globe Life were worth $782,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in Globe Life in the 4th quarter valued at about $28,000. Avalon Trust Co acquired a new position in Globe Life in the 4th quarter valued at about $41,000. EverSource Wealth Advisors LLC grew its stake in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in Globe Life in the 4th quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in Globe Life in the 4th quarter valued at about $68,000. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Morgan Stanley upped their price target on shares of Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Wells Fargo & Company decreased their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Piper Sandler decreased 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 note on Friday, May 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.73.

Globe Life Stock Performance

Shares of NYSE:GL opened at $123.96 on Monday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.23 billion, a PE ratio of 10.09 and a beta of 0.56. The company’s 50 day moving average price is $121.13 and its two-hundred day moving average price is $120.40. Globe Life Inc. has a 12-month low of $80.36 and a 12-month high of $133.76.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.78 EPS. Equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. Globe Life’s dividend payout ratio is 8.79%.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the sale, the chief executive officer now owns 31,298 shares in the company, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.97% of the stock is currently owned by company insiders.

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.