Lighthouse Investment Partners LLC Raises Stock Holdings in Globe Life Inc. (NYSE:GL)

Lighthouse Investment Partners LLC increased its position in Globe Life Inc. (NYSE:GL) by 914.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,266 shares of the company’s stock after purchasing an additional 115,628 shares during the period. Lighthouse Investment Partners LLC owned 0.15% of Globe Life worth $14,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in shares of Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after acquiring an additional 84 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Globe Life by 4.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock worth $276,000 after acquiring an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after acquiring an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in shares of Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after acquiring an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BMO Capital Markets assumed coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Piper Sandler cut their target price on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company lowered their price target on Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Morgan Stanley lowered 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 upped their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.00.

Globe Life Stock Up 0.6%

GL stock opened at $121.97 on Monday. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The business’s 50-day moving average is $123.62 and its two-hundred day moving average is $117.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56.

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

Globe Life Dividend Announcement

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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. The trade was a 36.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

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.