Eads & Heald Wealth Management Sells 1,195 Shares of Globe Life Inc. (NYSE:GL)

Eads & Heald Wealth Management lowered its holdings in shares of Globe Life Inc. (NYSE:GL) by 16.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,898 shares of the company’s stock after selling 1,195 shares during the quarter. Eads & Heald Wealth Management’s holdings in Globe Life were worth $658,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Globe Life by 46.0% in the second quarter. American Century Companies Inc. now owns 97,664 shares of the company’s stock worth $8,036,000 after purchasing an additional 30,760 shares during the last quarter. Edgestream Partners L.P. boosted its position in Globe Life by 88.2% in the 2nd quarter. Edgestream Partners L.P. now owns 3,762 shares of the company’s stock valued at $310,000 after buying an additional 1,763 shares during the period. Amalgamated Bank grew its stake in Globe Life by 24.2% in the 2nd quarter. Amalgamated Bank now owns 28,899 shares of the company’s stock worth $2,378,000 after acquiring an additional 5,627 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Globe Life by 41.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,537 shares of the company’s stock worth $1,105,000 after acquiring an additional 3,981 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of Globe Life during the second quarter worth approximately $242,000. Institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the 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 sale, the director now directly owns 5,122 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective on the stock. Wells Fargo & Company increased their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.00.

Globe Life Stock Up 1.2 %

NYSE:GL opened at $119.70 on Wednesday. The company’s 50-day simple moving average is $110.28 and its 200-day simple moving average is $103.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock has a market capitalization of $10.05 billion, a P/E ratio of 10.13 and a beta of 0.80.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. On average, equities analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Globe Life’s payout ratio is currently 8.12%.

Globe Life 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.