Versant Capital Management Inc Acquires 194 Shares of Globe Life Inc. (NYSE:GL)

Versant Capital Management Inc increased its holdings in Globe Life Inc. (NYSE:GL) by 388.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244 shares of the company’s stock after acquiring an additional 194 shares during the quarter. Versant Capital Management Inc’s holdings in Globe Life were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its position in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after buying an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 valued at $160,949,000 after buying an additional 277,108 shares during the last quarter. Millennium Management LLC boosted its holdings in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC grew its stake in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Morgan Stanley upped their target price 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 raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Five 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.10.

Globe Life Stock Performance

Shares of GL opened at $111.56 on Wednesday. The firm has a market capitalization of $9.36 billion, a P/E ratio of 9.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The business has a fifty day moving average of $108.57 and a 200 day moving average of $101.59.

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

Globe Life Dividend Announcement

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

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is owned by company insiders.

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.