Arrowstreet Capital Limited Partnership Boosts Stock Holdings in Globe Life Inc. (NYSE:GL)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,284,322 shares of the company's stock after buying an additional 36,051 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.53% of Globe Life worth $143,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its holdings 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 valued at $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in Globe Life during the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new stake in Globe Life in the fourth quarter worth about $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is owned by corporate insiders.

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Globe Life Stock Performance

Shares of NYSE GL traded down $10.21 during midday trading on Friday, hitting $117.30. 1,263,316 shares of the company's stock traded hands, compared to its average volume of 1,415,923. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 9.82 and a beta of 0.60. The firm has a fifty day moving average of $124.89 and a 200 day moving average of $114.70. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping 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%. On average, analysts forecast that Globe Life Inc. will post 13.87 earnings per share 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. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life's payout ratio is 9.04%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Wells Fargo & Company upped their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. 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 research note on Friday, February 28th. Finally, Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $138.45.

Globe Life 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.