SG Americas Securities LLC reduced its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 52.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,962 shares of the company’s stock after selling 57,548 shares during the period. SG Americas Securities LLC owned about 0.06% of Globe Life worth $4,358,000 at the end of the last quarter.

A number of other hedge funds have also bought and sold GL shares. Stratos Wealth Partners LTD. acquired a new stake in Globe Life during the fourth quarter valued at about $217,000. Sequoia Financial Advisors LLC increased its holdings in Globe Life by 72.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after buying an additional 1,526 shares during the same period. Cerity Partners LLC acquired a new stake in Globe Life during the fourth quarter valued at about $244,000. Louisiana State Employees Retirement System acquired a new stake in Globe Life during the fourth quarter valued at $633,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Globe Life by 6.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock valued at $31,840,000 after purchasing an additional 15,329 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life price development

Globe Life shares opened at $92.02 on Monday. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 8.79 and a beta of 0.80. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company’s 50-day moving average price is $85.24 and its 200-day moving average price is $97.03.

Globe Life (NYSE:GL – Get Free Report) last announced its quarterly results on Wednesday, July 24. The company reported earnings per share of $2.97 for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The company posted revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted earnings per share of $2.61. The company’s revenue grew 8.6% year-over-year. On average, equities analysts forecast that Globe Life Inc. will post earnings per share of $11.92 for the current fiscal year.

Globe Life dividend announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1. Shareholders of record on Friday, October 4 will receive a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a dividend yield of 1.04%. The ex-dividend date is Friday, October 4. Globe Life’s dividend payout ratio is 9.17%.

Insider buying and selling

In other news, CFO Thomas Peter Kalmbach bought 500 shares of the company’s stock on Friday, May 17. The shares were acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the CFO now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In related news, CFO Thomas Peter Kalmbach bought 500 shares of the company’s stock on Friday, May 17. The shares were acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the CFO now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible through this link. Also, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock on Friday, July 26. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,000 shares of the company’s stock, valued at $687,880, over the last ninety days. Company insiders own 1.51% of the company’s stock.

Wall Street analysts predict growth

GL has been the subject of several research reports lately. Jefferies Financial Group raised their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Evercore ISI raised their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price target (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Finally, Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26. Five research analysts have rated the stock with a “hold” rating, four have assigned a “buy” rating and one has given the company a “strong buy” rating. According to data from MarketBeat.com, the stock has a consensus rating of “moderate buy” and a consensus price target of $106.33.

Read our latest analysis on Globe Life

Globe Life Profile

(Free report)

Globe Life Inc., through its subsidiaries, offers a variety of life and supplemental health insurance products, as well as annuities to lower- and middle-income families in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities and Investments.

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