DGS Capital Management LLC Takes $212,000 Position in Globe Life Inc. (NYSE:GL)

DGS Capital Management LLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,997 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its holdings in shares of Globe Life by 6.4% in the 3rd quarter. Retirement Systems of Alabama now owns 19,702 shares of the company’s stock valued at $2,087,000 after purchasing an additional 1,179 shares in the last quarter. World Investment Advisors LLC increased its holdings in Globe Life by 34.7% during the third quarter. World Investment Advisors LLC now owns 5,704 shares of the company’s stock valued at $604,000 after buying an additional 1,469 shares during the period. Neo Ivy Capital Management purchased a new position in Globe Life during the third quarter valued at approximately $830,000. Coldstream Capital Management Inc. bought a new position in Globe Life in the third quarter worth approximately $351,000. Finally, Geode Capital Management LLC lifted its holdings in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.9 %

GL stock opened at $105.42 on Friday. The stock has a market capitalization of $8.85 billion, a PE ratio of 8.92 and a beta of 0.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $108.06 and a 200 day moving average of $98.10.

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

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life’s payout ratio is presently 8.12%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GL shares. Raymond James lifted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley lifted their target price 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. Jefferies Financial Group increased their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Truist Financial lifted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.10.

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.