Focus Partners Wealth Sells 12,276 Shares of Globe Life Inc. (NYSE:GL)

Focus Partners Wealth decreased its stake in shares of Globe Life Inc. (NYSE:GL) by 60.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,903 shares of the company’s stock after selling 12,276 shares during the period. Focus Partners Wealth’s holdings in Globe Life were worth $881,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ethic Inc. increased its stake in shares of Globe Life by 103.6% during the fourth quarter. Ethic Inc. now owns 20,578 shares of the company’s stock worth $2,295,000 after purchasing an additional 10,471 shares during the period. Deutsche Bank AG lifted its holdings in shares of Globe Life by 62.1% during the fourth quarter. Deutsche Bank AG now owns 420,970 shares of the company’s stock worth $46,947,000 after buying an additional 161,302 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Globe Life by 3,494.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 59,806 shares of the company’s stock valued at $6,670,000 after acquiring an additional 58,142 shares in the last quarter. Concentric Capital Strategies LP acquired a new stake in Globe Life in the 4th quarter worth about $1,429,000. Finally, Crestline Management LP acquired a new stake in shares of Globe Life in the fourth quarter valued at approximately $978,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Up 1.1%

Shares of GL opened at $121.87 on Monday. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The business has a 50-day moving average of $123.20 and a 200 day moving average of $117.73. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $10.06 billion, a P/E ratio of 10.20 and a beta of 0.56.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.78 earnings per share. As a group, research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Analysts Set New Price Targets

Several research firms have commented on GL. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler reduced their price target on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

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.