Globe Life Inc. (NYSE:GL) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,815 shares of the company's stock after purchasing an additional 36,113 shares during the quarter. American Century Companies Inc. owned approximately 0.17% of Globe Life worth $16,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc lifted its stake in shares of 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. Albion Financial Group UT acquired a new position in Globe Life in the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the fourth quarter worth about $28,000. Avalon Trust Co acquired a new stake in Globe Life in the 4th quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Down 8.0 %

Shares of NYSE GL traded down $10.21 on Friday, hitting $117.30. The company had a trading volume of 1,263,316 shares, compared to its average volume of 1,416,578. The firm has a market capitalization of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $133.76. The business has a 50 day moving average of $124.89 and a two-hundred day moving average of $114.76.

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Globe Life (NYSE:GL - Get Free Report) last posted 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, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.92%. Globe Life's dividend payout ratio is currently 9.04%.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction that occurred 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 approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock worth $7,239,630 in the last ninety days. 1.51% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Piper Sandler increased their price target on shares of Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley upped their price objective on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.45.

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.