Captrust Financial Advisors Trims Stock Position in Globe Life Inc. (NYSE:GL)

Captrust Financial Advisors decreased its position in Globe Life Inc. (NYSE:GL) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,900 shares of the company’s stock after selling 5,005 shares during the quarter. Captrust Financial Advisors’ holdings in Globe Life were worth $20,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the business. Private Trust Co. NA raised its position in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Private Wealth Management Group LLC bought a new position in shares of Globe Life during the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC raised its holdings in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Globe Life during the first quarter worth $49,000. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

GL has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Morgan Stanley increased their price target on Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Raymond James restated a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Finally, Piper Sandler lifted their target price on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.44.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Edward Hensley purchased 2,500 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $82.17 per share, with a total value of $205,425.00. Following the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 8,000 shares of company stock valued at $687,880. 1.51% of the stock is currently owned by company insiders.

Globe Life Trading Up 1.2 %

GL stock traded up $1.11 during mid-day trading on Tuesday, hitting $93.18. 355,416 shares of the company were exchanged, compared to its average volume of 1,927,652. The business has a fifty day simple moving average of $83.71 and a 200-day simple moving average of $98.92. The firm has a market capitalization of $8.39 billion, a P/E ratio of 8.96 and a beta of 0.81. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $2.61 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Globe Life Inc. will post 11.92 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

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.