Globe Life Inc. (NYSE:GL) Stake Boosted by Trexquant Investment LP

Trexquant Investment LP lifted its holdings in Globe Life Inc. (NYSE:GL) by 152.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,035 shares of the company’s stock after purchasing an additional 21,149 shares during the period. Trexquant Investment LP’s holdings in Globe Life were worth $4,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GL. Private Trust Co. NA lifted its position in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Globe Life in the fourth quarter valued at about $27,000. BKM Wealth Management LLC bought a new stake in Globe Life in the fourth quarter valued at about $28,000. Lindbrook Capital LLC grew its stake in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average cost of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Globe Life news, 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 transaction of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Matthew Darden bought 2,000 shares of Globe Life stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,973 shares in the company, valued at $3,220,869.86. The disclosure for this purchase can be found here. Insiders have bought a total of 4,000 shares of company stock valued at $331,435 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Globe Life Price Performance

Shares of Globe Life stock opened at $85.62 on Thursday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $91.42 and a two-hundred day simple moving average of $111.51. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 8.18 and a beta of 0.78.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business earned $2.53 earnings per share. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GL. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Evercore ISI lowered their price objective 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. Piper Sandler decreased their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.33.

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.