DMC Group LLC Purchases 993 Shares of Globe Life Inc. (NYSE:GL)

DMC Group LLC lifted its position in shares of Globe Life Inc. (NYSE:GL) by 45.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,194 shares of the company’s stock after acquiring an additional 993 shares during the period. DMC Group LLC’s holdings in Globe Life were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC grew its position in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after purchasing an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after buying an additional 277,108 shares during the last quarter. Nuance Investments LLC lifted its holdings in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in shares of Globe Life by 8.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock worth $106,835,000 after buying an additional 78,354 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.4 %

Shares of GL stock opened at $122.09 on Thursday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market capitalization of $10.25 billion, a PE ratio of 10.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day simple moving average is $111.62 and its 200-day simple moving average is $105.33.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Globe Life’s payout ratio is 8.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Morgan Stanley lifted their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.18.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last ninety days. Company insiders own 1.51% of the company’s stock.

Globe Life Company 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.