Alliancebernstein L.P. Has $12.72 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Alliancebernstein L.P. reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,078 shares of the company's stock after selling 10,031 shares during the period. Alliancebernstein L.P. owned 0.14% of Globe Life worth $12,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Globe Life in the fourth quarter valued at approximately $112,454,000. Raymond James Financial Inc. purchased a new position in shares of Globe Life in the fourth quarter valued at $61,238,000. Swedbank AB purchased a new stake in shares of Globe Life during the fourth quarter worth about $52,414,000. Proficio Capital Partners LLC boosted its holdings in Globe Life by 11,153.5% in the fourth quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock valued at $49,635,000 after purchasing an additional 441,121 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after purchasing an additional 326,307 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of several research reports. Morgan Stanley cut their price objective on Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets started 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. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Piper Sandler increased their target price on shares of Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, 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 report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.55.

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Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of 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 disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Performance

GL traded up $2.25 during trading hours on Tuesday, hitting $123.48. The company's stock had a trading volume of 74,511 shares, compared to its average volume of 1,159,590. The company has a 50-day simple moving average of $124.26 and a 200 day simple moving average of $115.37. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.28 billion, a PE ratio of 10.33 and a beta of 0.60. Globe Life Inc. has a fifty-two week low of $54.66 and a fifty-two week high of $133.76.

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 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%. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio (DPR) is currently 9.04%.

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.