Caprock Group LLC Makes New Investment in Globe Life Inc. (NYSE:GL)

Caprock Group LLC bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,631 shares of the company's stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DMC Group LLC lifted its holdings in Globe Life by 45.1% during the 4th quarter. DMC Group LLC now owns 3,194 shares of the company's stock worth $356,000 after buying an additional 993 shares during the last quarter. Swedbank AB purchased a new stake in Globe Life during the 4th quarter worth about $52,414,000. Hantz Financial Services Inc. lifted its holdings in Globe Life by 12.8% during the 4th quarter. Hantz Financial Services Inc. now owns 13,594 shares of the company's stock worth $1,516,000 after buying an additional 1,546 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Globe Life by 396.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,025 shares of the company's stock worth $1,676,000 after buying an additional 12,000 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Globe Life by 56.0% during the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company's stock worth $1,137,000 after buying an additional 3,662 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent analyst reports. Raymond James lifted their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $132.18.

Globe Life Stock Performance

GL stock traded up $3.66 during trading on Friday, hitting $123.63. The company had a trading volume of 958,110 shares, compared to its average volume of 510,240. The firm has a market cap of $10.38 billion, a PE ratio of 10.35 and a beta of 0.81. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a 50-day moving average price of $113.19 and a 200-day moving average price of $106.99. 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 (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating 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 expect that Globe Life Inc. will post 13.57 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Monday, January 6th. Globe Life's payout ratio is 8.03%.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,788 shares of company stock worth $4,429,779. Company insiders own 1.51% of the company's stock.

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.