Monument Group Wealth Advisors LLC Invests $427,000 in Globe Life Inc. (NYSE:GL)

Monument Group Wealth Advisors LLC acquired a new stake in Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,505 shares of the company’s stock, valued at approximately $427,000. Globe Life comprises about 0.4% of Monument Group Wealth Advisors LLC’s portfolio, making the stock its 20th biggest position.

Other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Globe Life by 169.4% in the 4th 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 raised its holdings in Globe Life by 141.4% in the third 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 during the period. Vanguard Group Inc. raised its holdings in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares during the period. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 168,127 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Globe Life by 200.8% in the 3rd quarter. Stifel Financial Corp now owns 232,329 shares of the company’s stock valued at $25,261,000 after buying an additional 155,090 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Up 14.2 %

NYSE:GL opened at $75.79 on Wednesday. The company has a market cap of $7.13 billion, a P/E ratio of 7.24 and a beta of 0.69. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The business has a 50 day moving average price of $109.59 and a two-hundred day moving average price of $116.08. 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 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business 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 business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 EPS. As a group, analysts expect that Globe Life Inc. will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GL. Piper Sandler dropped their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Evercore ISI dropped their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Truist Financial reiterated a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company reduced their price target on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $124.22.

Globe Life 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.