Versant Capital Management Inc Buys 194 Shares of Globe Life Inc. (NYSE:GL)

Versant Capital Management Inc lifted its stake in Globe Life Inc. (NYSE:GL) by 388.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 244 shares of the company’s stock after buying an additional 194 shares during the quarter. Versant Capital Management Inc’s holdings in Globe Life were worth $27,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in Globe Life in the 3rd quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. increased its position in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new stake in Globe Life during the third quarter valued at $59,000. Quarry LP lifted its position in Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after buying an additional 270 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Activity

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,788 shares of company stock worth $4,429,779. Company insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Globe Life Trading Up 0.3 %

Shares of GL opened at $111.56 on Wednesday. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 9.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a 50-day moving average of $108.57 and a 200 day moving average of $101.59.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, research analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared 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 is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s dividend payout ratio is currently 8.12%.

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.