Monument Group Wealth Advisors LLC Acquires New Shares in Globe Life Inc. (NYSE:GL)

Monument Group Wealth Advisors LLC bought a new position in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,505 shares of the company’s stock, valued at approximately $427,000. Globe Life makes up about 0.4% of Monument Group Wealth Advisors LLC’s investment portfolio, making the stock its 20th largest holding.

Several other large investors have also recently bought and sold shares of the company. CWM LLC raised its holdings in Globe Life by 11.4% in the 3rd quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after buying an additional 156 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Globe Life during the third quarter worth $749,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Globe Life in the third quarter worth $335,000. DnB Asset Management AS increased its holdings in Globe Life by 8.4% in the third quarter. DnB Asset Management AS now owns 20,278 shares of the company’s stock valued at $2,205,000 after purchasing an additional 1,579 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in Globe Life by 76.1% in the third quarter. Ritholtz Wealth Management now owns 4,170 shares of the company’s stock valued at $453,000 after purchasing an additional 1,802 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Up 14.2 %

Shares of NYSE GL opened at $75.79 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.13 billion, a PE ratio of 7.24 and a beta of 0.69. The company’s fifty day simple moving average is $109.59 and its 200 day simple moving average is $116.08. 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 data on Monday, April 22nd. The company reported $2.78 earnings per share (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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company earned $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Wall Street Analyst Weigh In

GL has been the topic of a number of analyst reports. Piper Sandler reduced their price target on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial restated a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research report on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.22.

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.