Raymond James Financial Inc. Acquires New Shares in Globe Life Inc. (NYSE:GL)

Raymond James Financial Inc. bought a new position in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 549,121 shares of the company's stock, valued at approximately $61,238,000. Raymond James Financial Inc. owned approximately 0.65% of Globe Life at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GL. Private Trust Co. NA raised its position in Globe Life by 12.5% during the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after buying an additional 100 shares in the last quarter. Ballentine Partners LLC lifted its position in Globe Life by 4.5% in the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the company's stock worth $313,000 after buying an additional 121 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Globe Life by 18.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 784 shares of the company's stock worth $87,000 after buying an additional 124 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock valued at $373,000 after acquiring an additional 136 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

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Insider Activity at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares of the company's stock, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares of the company's stock, valued at $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock worth $7,239,630 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Globe Life Trading Down 0.4 %

Shares of GL stock traded down $0.43 during trading hours on Thursday, reaching $121.92. The company's stock had a trading volume of 548,804 shares, compared to its average volume of 619,717. 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 Inc. has a one year low of $38.95 and a one year high of $131.39. The stock has a market capitalization of $10.22 billion, a P/E ratio of 10.20 and a beta of 0.77. The firm's fifty day simple moving average is $120.57 and its 200 day simple moving average is $111.88.

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

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Analyst Ratings Changes

GL has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Wells Fargo & Company boosted their target price on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their target price 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 analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.60.

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.