Bayesian Capital Management LP Invests $669,000 in Globe Life Inc. (NYSE:GL)

Bayesian Capital Management LP purchased a new stake in Globe Life Inc. (NYSE:GL) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,998 shares of the company’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Globe Life during the fourth quarter worth approximately $61,238,000. Principal Financial Group Inc. grew its holdings in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after buying an additional 8,663 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Globe Life during the fourth quarter worth $487,000. Prudential Financial Inc. raised its position in shares of Globe Life by 50.0% in the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock valued at $9,069,000 after buying an additional 27,590 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Globe Life by 61.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after buying an additional 9,395 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In other news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company’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 value 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 $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Down 0.9 %

Shares of NYSE GL opened at $120.44 on Wednesday. The stock has a market cap of $10.03 billion, a P/E ratio of 10.08 and a beta of 0.56. The business’s fifty day simple moving average is $123.93 and its 200-day simple moving average is $116.95. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $2.78 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s dividend payout ratio is presently 8.79%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GL. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Piper Sandler reduced their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target 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. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Four research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.00.

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.