SG Americas Securities LLC Reduces Holdings in Globe Life Inc. (NYSE:GL)

SG Americas Securities LLC reduced its holdings in shares of Globe Life Inc. (NYSE:GL) by 41.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,584 shares of the company’s stock after selling 36,809 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Globe Life worth $6,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GL. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Globe Life by 39.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,988 shares of the company’s stock worth $984,000 after purchasing an additional 2,547 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Globe Life by 719.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 24,225 shares of the company’s stock worth $2,702,000 after purchasing an additional 21,269 shares during the last quarter. Hartford Investment Management Co. boosted its stake in shares of Globe Life by 13.1% during the 4th quarter. Hartford Investment Management Co. now owns 6,825 shares of the company’s stock worth $761,000 after purchasing an additional 788 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Globe Life by 24.0% during the 4th quarter. Van ECK Associates Corp now owns 72,510 shares of the company’s stock worth $8,086,000 after purchasing an additional 14,055 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Globe Life during the 4th quarter worth about $903,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Down 0.3%

NYSE GL opened at $119.76 on Thursday. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76. The company’s 50 day moving average price is $120.70 and its 200 day moving average price is $119.14. 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 capitalization of $9.89 billion, a price-to-earnings ratio of 10.02 and a beta of 0.56.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $2.78 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life’s payout ratio is currently 8.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Morgan Stanley raised their target price on shares of Globe Life from $117.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Piper Sandler decreased their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.73.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now directly owns 31,298 shares of the company’s stock, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.51% of the company’s stock.

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.