Bryce Point Capital LLC Invests $1.78 Million in Globe Life Inc. (NYSE:GL)

Bryce Point Capital LLC acquired a new stake in Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,955 shares of the company’s stock, valued at approximately $1,779,000. Globe Life makes up 0.5% of Bryce Point Capital LLC’s investment portfolio, making the stock its 27th largest holding.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GL shares. Wells Fargo & Company increased their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $135.60.

Globe Life Stock Up 0.3 %

Globe Life stock opened at $132.07 on Wednesday. The stock has a 50-day simple moving average of $124.49 and a 200-day simple moving average of $114.41. The company has a market capitalization of $10.99 billion, a P/E ratio of 11.05 and a beta of 0.77. 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 $133.31.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Insider Buying and Selling at Globe Life

In related news, 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 directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by company insiders.

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.