Globe Life Inc. (NYSE:GL) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Globe Life Inc. (NYSE:GL) by 72.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,637 shares of the company’s stock after purchasing an additional 1,526 shares during the period. Sequoia Financial Advisors LLC’s holdings in Globe Life were worth $443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Private Trust Co. NA increased its stake in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Globe Life during the fourth quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in Globe Life during the first quarter worth about $29,000. AM Squared Ltd acquired a new position in Globe Life in the 1st quarter valued at about $44,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Globe Life in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Up 5.4 %

NYSE GL opened at $63.23 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 6.27 and a beta of 0.69. The firm has a 50 day simple moving average of $114.17 and a 200-day simple moving average of $117.20. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. Equities research analysts anticipate that Globe Life Inc. will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.52%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GL shares. Wells Fargo & Company reduced their price target on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Piper Sandler reduced their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Finally, Truist Financial reaffirmed a “hold” rating and set a $125.00 target price on shares of Globe Life in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

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.