Voloridge Investment Management LLC Sells 95,133 Shares of Globe Life Inc. (NYSE:GL)

Voloridge Investment Management LLC lessened its stake in Globe Life Inc. (NYSE:GL) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 587,200 shares of the company’s stock after selling 95,133 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.70% of Globe Life worth $65,485,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GL. Private Trust Co. NA raised its holdings in Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after acquiring an additional 84 shares during the period. HighPoint Advisor Group LLC raised its holdings in Globe Life by 4.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock valued at $276,000 after acquiring an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after purchasing an additional 88 shares during the period. EverSource Wealth Advisors LLC increased 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 worth $41,000 after purchasing an additional 90 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after purchasing an additional 100 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 0.0%

Shares of NYSE:GL opened at $122.17 on Wednesday. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The firm has a fifty day moving average of $123.20 and a 200 day moving average of $117.89. The firm has a market capitalization of $10.08 billion, a PE ratio of 10.22 and a beta of 0.56. 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 (NYSE:GL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned $2.78 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.88%. Globe Life’s payout ratio is 8.79%.

Wall Street Analysts Forecast Growth

GL has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on shares of Globe Life from $117.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company decreased their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.73.

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.