Globe Life Inc. (NYSE:GL) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Globe Life Inc. (NYSE:GL) by 15.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,995 shares of the company’s stock after acquiring an additional 662 shares during the period. GAMMA Investing LLC’s holdings in Globe Life were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. lifted its position in shares of Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Millennium Management LLC lifted its holdings in Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares in the last quarter. Nuance Investments LLC boosted its position in Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Globe Life by 15,398.7% during the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock valued at $356,530,000 after acquiring an additional 334,459 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $111.51 on Monday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $108.37 and a 200 day simple moving average of $101.19. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market cap of $9.36 billion, a PE ratio of 9.43 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned $2.71 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GL. Wells Fargo & Company increased their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Raymond James increased their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.10.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

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.