Amundi Acquires 68,004 Shares of Globe Life Inc. (NYSE:GL)

Amundi boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 57.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,112 shares of the company's stock after purchasing an additional 68,004 shares during the period. Amundi owned about 0.22% of Globe Life worth $21,239,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. grew its stake in Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after acquiring an additional 88 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Globe Life during the fourth quarter valued at approximately $61,238,000. Cullen Frost Bankers Inc. lifted its position in Globe Life by 3,157.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company's stock valued at $69,000 after acquiring an additional 600 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Globe Life by 12.2% in the fourth quarter. M&T Bank Corp now owns 20,769 shares of the company's stock worth $2,316,000 after buying an additional 2,257 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings 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 during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Performance

GL stock traded up $3.61 on Friday, hitting $125.56. The company's stock had a trading volume of 746,407 shares, compared to its average volume of 622,331. The firm has a 50 day moving average of $121.05 and a two-hundred day moving average of $112.11. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

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Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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 analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company 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 $0.27 dividend. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.86%. Globe Life's dividend payout ratio (DPR) is 9.04%.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 over the last 90 days. 1.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GL shares. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley increased their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, 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 report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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.