Harbour Capital Advisors LLC Takes $244,000 Position in Globe Life Inc. (NYSE:GL)

Harbour Capital Advisors LLC bought a new stake in Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,190 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also made changes to their positions in GL. Versant Capital Management Inc lifted its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Globe Life in the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Globe Life in the 3rd quarter valued at about $59,000. Finally, Quarry LP lifted its holdings in shares of Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of the 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 in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GL has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped 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. Morgan Stanley upped their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Piper Sandler upped their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $134.00.

Globe Life Stock Performance

GL opened at $113.05 on Tuesday. The stock has a market cap of $9.49 billion, a P/E ratio of 9.56 and a beta of 0.80. 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’s 50 day simple moving average is $109.25 and its 200 day simple moving average is $102.44. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, equities analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 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.