Burns Matteson Capital Management LLC Purchases New Shares in Globe Life Inc. (NYSE:GL)

Burns Matteson Capital Management LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,870 shares of the company’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keener Financial Planning LLC acquired a new stake in Globe Life during the first quarter valued at $49,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the period. LRI Investments LLC acquired a new stake in Globe Life during the first quarter valued at $72,000. Family Firm Inc. acquired a new stake in shares of Globe Life in the second quarter valued at about $54,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Globe Life in the first quarter valued at about $82,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several research analyst reports. Jefferies Financial Group lifted their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Evercore ISI lifted their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Truist Financial lifted their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.60.

Globe Life Trading Up 1.3 %

GL stock traded up $1.35 during trading on Friday, reaching $107.78. 516,030 shares of the stock were exchanged, compared to its average volume of 1,643,985. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $101.88 and a 200-day moving average price of $91.11. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 9.75 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is presently 8.68%.

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.