Lee Danner & Bass Inc. Invests $70,000 in Globe Life Inc. (NYSE:GL)

Lee Danner & Bass Inc. purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 625 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Globe Life in the fourth quarter valued at approximately $61,238,000. Swedbank AB bought a new stake in Globe Life in the fourth quarter valued at approximately $52,414,000. Proficio Capital Partners LLC boosted its holdings in Globe Life by 11,153.5% in the fourth quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company’s stock valued at $49,635,000 after acquiring an additional 441,121 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Globe Life by 22.3% in the third 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 acquiring an additional 277,108 shares during the last quarter. Finally, State Street Corp boosted its holdings in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last quarter. 1.51% of the stock is currently owned by company insiders.

Globe Life Trading Down 1.4 %

NYSE GL opened at $126.86 on Friday. The firm has a market capitalization of $10.64 billion, a P/E ratio of 10.62 and a beta of 0.77. The business has a fifty day simple moving average of $122.53 and a 200 day simple moving average of $112.98. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $131.39. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is 9.04%.

Wall Street Analyst Weigh In

GL has been the topic of several analyst reports. Morgan Stanley upped their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods increased their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.60.

About Globe Life

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.