JPMorgan Chase & Co. Decreases Holdings in Globe Life Inc. (NYSE:GL)

JPMorgan Chase & Co. decreased its holdings in Globe Life Inc. (NYSE:GL) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,013 shares of the company’s stock after selling 2,288 shares during the period. JPMorgan Chase & Co.’s holdings in Globe Life were worth $18,737,000 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. Versant Capital Management Inc lifted its stake in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Globe Life during the 4th quarter valued at approximately $28,000. Albion Financial Group UT purchased a new stake in Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co bought a new stake in Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GL. Morgan Stanley reduced their target price on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Thursday. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price target on Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.55.

Globe Life Price Performance

Shares of GL stock opened at $118.39 on Friday. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 9.91 and a beta of 0.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $133.76. The stock has a fifty day simple moving average of $124.36 and a two-hundred day simple moving average of $115.14.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.91%. Globe Life’s payout ratio is 9.04%.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 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.