Strategy Asset Managers LLC Takes Position in Globe Life Inc. $GL

Strategy Asset Managers LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 5,602 shares of the company’s stock, valued at approximately $801,000.

Several other hedge funds also recently added to or reduced their stakes in GL. Global Assets Advisory LLC purchased a new stake in shares of Globe Life during the 2nd quarter worth approximately $25,000. CYBER HORNET ETFs LLC acquired a new stake in Globe Life during the 2nd quarter worth $28,000. Mather Group LLC. purchased a new stake in Globe Life in the third quarter valued at $28,000. Assetmark Inc. boosted its stake in Globe Life by 777.8% in the second quarter. Assetmark Inc. now owns 237 shares of the company’s stock valued at $29,000 after acquiring an additional 210 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of Globe Life during the second quarter worth about $31,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Up 0.1%

Shares of Globe Life stock opened at $140.11 on Monday. The company has a 50-day moving average of $138.32 and a two-hundred day moving average of $137.37. Globe Life Inc. has a 12-month low of $109.38 and a 12-month high of $147.83. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.41. The stock has a market cap of $11.15 billion, a PE ratio of 10.15 and a beta of 0.47.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Monday, January 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, January 5th. Globe Life’s payout ratio is presently 7.83%.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 9,379 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $140.43, for a total value of $1,317,092.97. Following the sale, the chief executive officer owned 35,868 shares of the company’s stock, valued at approximately $5,036,943.24. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GL. Weiss Ratings downgraded Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 14th. Evercore ISI downgraded Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 price objective for the company. in a report on Tuesday, January 6th. Truist Financial raised their target price on shares of Globe Life from $150.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $167.00 price target on shares of Globe Life in a research report on Friday, November 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $176.00 price objective on shares of Globe Life in a research report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.22.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.