Eads & Heald Wealth Management Reduces Position in Globe Life Inc. (NYSE:GL)

Eads & Heald Wealth Management reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,898 shares of the company’s stock after selling 1,195 shares during the period. Eads & Heald Wealth Management’s holdings in Globe Life were worth $658,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GL. D. E. Shaw & Co. Inc. lifted its stake in Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Millennium Management LLC lifted its stake in Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares in the last quarter. Nuance Investments LLC boosted its holdings in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after acquiring an additional 693,346 shares during the period. International Assets Investment Management LLC grew its position in Globe Life by 15,398.7% in the 3rd quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock valued at $356,530,000 after acquiring an additional 334,459 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after purchasing an additional 277,108 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock worth $4,429,779 in the last quarter. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $134.00.

Globe Life Stock Performance

NYSE:GL opened at $119.70 on Wednesday. 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 firm has a market cap of $10.05 billion, a price-to-earnings ratio of 10.13 and a beta of 0.80. The firm’s fifty day moving average price is $110.28 and its 200 day moving average price is $103.92. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS 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 business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Globe Life Inc. will post 12.32 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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

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.