Wealth Enhancement Advisory Services LLC Has $2.11 Million Position in Globe Life Inc. (NYSE:GL)

Wealth Enhancement Advisory Services LLC lifted its position in Globe Life Inc. (NYSE:GL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,923 shares of the company’s stock after acquiring an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Globe Life were worth $2,110,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Globe Life during the third quarter worth $32,000. True Wealth Design LLC bought a new stake in shares of Globe Life during the third quarter worth $59,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the period. Finally, Private Trust Co. NA lifted its position in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after acquiring an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

Shares of GL opened at $114.06 on Wednesday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s fifty day moving average price is $109.25 and its two-hundred day moving average price is $102.44. The firm has a market cap of $9.57 billion, a PE ratio of 9.65 and a beta of 0.80.

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, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm 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 business posted $2.71 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group lifted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.00.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock valued at $4,429,779 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Globe Life 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.