7,129 Shares of Globe Life Inc. $GL Acquired by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,129 shares of the company’s stock, valued at approximately $1,181,000.

Other hedge funds have also added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in shares of Globe Life in the second quarter worth about $39,000. Fortitude Family Office LLC boosted its position in shares of Globe Life by 94.6% in the third quarter. Fortitude Family Office LLC now owns 327 shares of the company’s stock valued at $54,000 after acquiring an additional 159 shares during the period. Assetmark Inc. grew its stake in Globe Life by 42.0% during the second quarter. Assetmark Inc. now owns 426 shares of the company’s stock valued at $76,000 after acquiring an additional 126 shares in the last quarter. Root Financial Partners LLC purchased a new position in Globe Life during the third quarter valued at approximately $92,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Globe Life during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 1.2%

Shares of NYSE GL opened at $157.27 on Friday. Globe Life Inc. has a 12 month low of $129.21 and a 12 month high of $191.55. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 10.52 and a beta of 0.47. The business has a 50-day moving average of $166.85 and a 200-day moving average of $160.10.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates of $4.90 by ($0.06). Globe Life had a net margin of 18.89% and a return on equity of 19.51%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business earned $4.81 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Globe Life Inc. will post 15.48 earnings per share for the current fiscal year.

Globe Life announced that its Board of Directors has initiated a stock buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 17.7% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 8th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio is presently 8.83%.

Insiders Place Their Bets

In other news, EVP Michael Majors sold 14,377 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total transaction of $2,220,958.96. Following the sale, the executive vice president owned 39,141 shares in the company, valued at approximately $6,046,501.68. This trade represents a 26.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Hensley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the sale, the executive vice president owned 12,384 shares in the company, valued at approximately $2,106,146.88. This trade represents a 44.67% decrease in their position. The SEC filing for this sale provides additional information. 2.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GL. Wells Fargo & Company decreased their target price on shares of Globe Life from $191.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Morgan Stanley cut their price target on shares of Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Piper Sandler cut shares of Globe Life from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $200.00 to $165.00 in a report on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $193.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $181.50.

Globe Life Company Profile

Globe Life Inc is a U.S.-based insurance holding company that provides life and supplemental health insurance through its subsidiaries. Its products include term and whole life insurance, Medicare Supplement insurance, and supplemental health coverage such as accident, cancer, and critical illness policies.

The company distributes insurance through a mix of exclusive agents, independent agents, and direct marketing. Its operating companies include Globe Life and Accident Insurance Company, American Income Life, Liberty National, Family Heritage Life, and United American.

Globe Life traces its roots to 1951, when one of its predecessor businesses was established.