Clifford Swan Investment Counsel LLC Makes New Investment in Globe Life Inc. (NYSE:GL)

Clifford Swan Investment Counsel LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,697 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after acquiring an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after acquiring an additional 168,127 shares in the last quarter. Cooke & Bieler LP boosted its position in Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after purchasing an additional 45,227 shares during the period. Invesco Ltd. lifted its stake in shares of Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after buying an additional 67,753 shares during the last quarter. Finally, Equity Investment Corp grew its stake in shares of Globe Life by 1.9% in the third quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock worth $79,118,000 after acquiring an additional 13,876 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Price Performance

NYSE:GL opened at $80.69 on Tuesday. The firm has a market cap of $7.59 billion, a PE ratio of 7.72 and a beta of 0.78. The company’s 50-day moving average price is $100.90 and its two-hundred day moving average price is $113.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $2.53 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Globe Life Inc. will post 11.72 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is presently 9.17%.

Insiders Place Their Bets

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GL. Piper Sandler dropped their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Wells Fargo & Company reduced their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Finally, Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

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.