Mariner LLC Purchases 2,733 Shares of Globe Life Inc. (NYSE:GL)

Mariner LLC increased its position in shares of Globe Life Inc. (NYSE:GL) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,355 shares of the company’s stock after purchasing an additional 2,733 shares during the period. Mariner LLC’s holdings in Globe Life were worth $3,497,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new position in Globe Life in the 4th quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of Globe Life during the fourth quarter worth approximately $28,000. Avalon Trust Co bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $116.95 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.74 billion, a PE ratio of 9.79 and a beta of 0.60. Globe Life Inc. has a 12-month low of $66.25 and a 12-month high of $133.76. The business’s fifty day simple moving average is $124.15 and its 200-day simple moving average is $115.91.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 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%. Analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio is presently 9.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their target price on Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price target on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $137.55.

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.