2,900 Shares in Globe Life Inc. (NYSE:GL) Acquired by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,900 shares of the company's stock, valued at approximately $323,000.

Several other institutional investors have also made changes to their positions in GL. Raymond James Financial Inc. bought a new stake in Globe Life in the fourth quarter worth $61,238,000. State Street Corp lifted its position in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after buying an additional 115,432 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after acquiring an additional 8,663 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Globe Life during the 4th quarter valued at about $487,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after acquiring an additional 9,395 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GL shares. Jefferies Financial Group upped their target price on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.60.

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Globe Life Stock Performance

Globe Life stock traded up $1.25 during trading hours on Thursday, hitting $128.65. The stock had a trading volume of 607,231 shares, compared to its average volume of 621,061. The company has a 50-day moving average of $121.96 and a two-hundred day moving average of $112.66. 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 fifty-two week low of $38.95 and a fifty-two week high of $131.39. The company has a market cap of $10.79 billion, a PE ratio of 10.77 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.84%. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Insider Activity

In other news, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company's stock.

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.