Vise Technologies Inc. Buys New Holdings in Globe Life Inc. $GL

Vise Technologies Inc. purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 7,129 shares of the company’s stock, valued at approximately $1,181,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Globe Life in the 2nd quarter valued at $987,901,000. State Street Corp grew its holdings in shares of Globe Life by 2.1% during the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after purchasing an additional 76,745 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Globe Life by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after purchasing an additional 217,331 shares during the period. Pzena Investment Management LLC purchased a new position in Globe Life in the 2nd quarter worth $242,256,000. Finally, Equity Investment Corp purchased a new position in Globe Life in the 2nd quarter worth $122,971,000. 81.61% of the stock is currently owned by institutional investors.

Insider Transactions at Globe Life

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on GL shares. Piper Sandler lowered shares of Globe Life from an “overweight” rating to a “neutral” rating and cut their price target for the company from $200.00 to $165.00 in a research report on Friday, October 23rd. Wells Fargo & Company decreased their price objective on 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 decreased their price objective on Globe Life from $208.00 to $197.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. UBS Group set a $165.00 target price on Globe Life in a report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods dropped their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.50.

Globe Life Price Performance

Shares of Globe Life stock opened at $157.27 on Friday. The firm has a market cap of $11.86 billion, a PE ratio of 10.52 and a beta of 0.47. Globe Life Inc. has a 12-month low of $129.21 and a 12-month high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $166.85 and its two-hundred day simple moving average is $160.10.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing the consensus estimate of $4.90 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 18.89% and a return on equity of 19.51%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $4.81 earnings per share. As a group, equities analysts expect that Globe Life Inc. will post 15.48 EPS for the current year.

Globe Life declared that its Board of Directors has approved a share repurchase plan on Monday, August 10th that allows the company to repurchase $2.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 17.7% of its shares through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 8th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is presently 8.83%.

Globe Life 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.