Mariner LLC Buys 2,733 Shares of Globe Life Inc. (NYSE:GL)

Mariner LLC lifted its stake in Globe Life Inc. (NYSE:GL) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,355 shares of the company’s stock after purchasing an additional 2,733 shares during the quarter. Mariner LLC’s holdings in Globe Life were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GL. Norges Bank bought a new stake in Globe Life in the 4th quarter worth approximately $112,454,000. Raymond James Financial Inc. bought a new position in Globe Life in the fourth quarter valued at about $61,238,000. Swedbank AB purchased a new position in Globe Life in the fourth quarter worth about $52,414,000. Proficio Capital Partners LLC grew its stake in shares of Globe Life by 11,153.5% during the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company’s stock valued at $49,635,000 after purchasing an additional 441,121 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock valued at $570,661,000 after purchasing an additional 326,307 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

GL has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Piper Sandler lifted their target price on Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $137.55.

Globe Life Trading Down 3.5 %

Globe Life stock opened at $116.95 on Tuesday. Globe Life Inc. has a 1 year low of $66.25 and a 1 year high of $133.76. The firm’s 50 day moving average price is $124.15 and its 200-day moving average price is $115.91. 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 stock has a market cap of $9.74 billion, a P/E ratio of 9.79 and a beta of 0.60.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio is presently 9.04%.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

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.