Soros Fund Management LLC Takes $5.35 Million Position in Globe Life Inc. (NYSE:GL)

Soros Fund Management LLC purchased a new position in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,000 shares of the company’s stock, valued at approximately $5,353,000. Soros Fund Management LLC owned 0.06% of Globe Life at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Globe Life during the fourth quarter valued at $61,238,000. Principal Financial Group Inc. raised its position in Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing an additional 8,663 shares during the period. Merit Financial Group LLC bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $487,000. Prudential Financial Inc. increased its position in shares of Globe Life by 50.0% during the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock valued at $9,069,000 after purchasing an additional 27,590 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock valued at $2,751,000 after buying an additional 9,395 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.5 %

Globe Life stock opened at $123.56 on Tuesday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 10.34 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business has a fifty day moving average price of $124.14 and a 200-day moving average price of $116.51. Globe Life Inc. has a 1-year low of $71.50 and a 1-year high of $133.76.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, July 3rd. Globe Life’s dividend payout ratio is currently 9.04%.

Insider Activity

In related news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. 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 report on Wednesday, April 2nd. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Morgan Stanley reduced their price target on Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.55.

Globe Life Company 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.