NBC Securities Inc. Has $675,000 Stock Position in Globe Life Inc. (NYSE:GL)

NBC Securities Inc. raised its stake in Globe Life Inc. (NYSE:GL) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,803 shares of the company’s stock after buying an additional 153 shares during the period. NBC Securities Inc.’s holdings in Globe Life were worth $675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after buying an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $461,884,000 after acquiring an additional 168,127 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after acquiring an additional 45,227 shares during the last quarter. Invesco Ltd. raised its stake in shares of Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after acquiring an additional 67,753 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Globe Life by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after acquiring an additional 29,560 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity

In other Globe Life news, CEO James Matthew Darden acquired 2,000 shares of Globe Life stock in a transaction dated Thursday, May 16th. The stock was purchased 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 of the company’s stock, valued at $3,220,869.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Thomas Peter Kalmbach purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the acquisition, the chief financial officer now owns 18,080 shares in the company, valued at $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the acquisition, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders acquired 6,500 shares of company stock worth $536,860 over the last three months. 1.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GL shares. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Piper Sandler dropped their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Evercore ISI lowered their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Finally, Wells Fargo & Company lowered their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Trading Up 0.6 %

GL opened at $80.40 on Thursday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The company has a market cap of $7.42 billion, a P/E ratio of 7.68 and a beta of 0.81. The company has a fifty day moving average price of $78.98 and a two-hundred day moving average price of $106.48.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. Analysts predict that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio is currently 9.17%.

About Globe Life

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.