HighTower Advisors LLC Has $4.49 Million Holdings in Globe Life Inc. (NYSE:GL)

Posted by Defense World Staff on May 20th, 2023

HighTower Advisors LLC boosted its stake in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,271 shares of the company’s stock after buying an additional 2,564 shares during the period. HighTower Advisors LLC’s holdings in Globe Life were worth $4,492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GL. Ronald Blue Trust Inc. increased its holdings in shares of Globe Life by 72.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 409 shares of the company’s stock valued at $41,000 after purchasing an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Globe Life in the 4th quarter valued at about $53,000. Ellevest Inc. increased its holdings in shares of Globe Life by 36.2% in the 3rd quarter. Ellevest Inc. now owns 448 shares of the company’s stock valued at $45,000 after purchasing an additional 119 shares during the period. Ameliora Wealth Management Ltd. acquired a new position in shares of Globe Life in the 3rd quarter valued at about $84,000. Finally, Tobam acquired a new position in shares of Globe Life in the 4th quarter valued at about $102,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Globe Life Stock Down 0.6 %

Shares of Globe Life stock opened at $108.28 on Friday. The stock has a market capitalization of $10.35 billion, a P/E ratio of 13.35 and a beta of 0.79. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $107.93 and a two-hundred day moving average price of $114.89. Globe Life Inc. has a 12-month low of $87.87 and a 12-month high of $123.85.

Globe Life (NYSE:GL – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Globe Life had a return on equity of 19.20% and a net margin of 15.28%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. Equities analysts expect that Globe Life Inc. will post 10.39 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 3rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.83%. This is a boost from Globe Life’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, March 31st. Globe Life’s dividend payout ratio is currently 11.10%.

Insider Activity

In other news, EVP Robert Brian Mitchell sold 38,000 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $121.45, for a total value of $4,615,100.00. Following the completion of the sale, the executive vice president now directly owns 4,310 shares of the company’s stock, valued at $523,449.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Globe Life news, Director Melissa Jane Buchan sold 1,900 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $105.95, for a total transaction of $201,305.00. Following the completion of the transaction, the director now directly owns 81,658 shares in the company, valued at $8,651,665.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Brian Mitchell sold 38,000 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $121.45, for a total value of $4,615,100.00. Following the transaction, the executive vice president now owns 4,310 shares of the company’s stock, valued at $523,449.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,125 shares of company stock valued at $10,994,960. 4.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GL. Morgan Stanley dropped their target price on Globe Life from $133.00 to $129.00 and set an “underweight” rating on the stock in a report on Wednesday, April 12th. Wells Fargo & Company began coverage on Globe Life in a research note on Tuesday, April 25th. They issued an “equal weight” rating and a $120.00 price target for the company. Piper Sandler lowered their price target on Globe Life from $135.00 to $130.00 in a research note on Friday, May 5th. Raymond James lowered their price target on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Tuesday, March 14th. Finally, Truist Financial boosted their price target on Globe Life from $112.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.50.

Globe Life Company Profile

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.