Globe Life Inc. (NYSE:GL) Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 76.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 91,682 shares of the company's stock after acquiring an additional 39,678 shares during the period. ExodusPoint Capital Management LP owned approximately 0.11% of Globe Life worth $10,224,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Globe Life in the 4th quarter valued at about $112,454,000. Raymond James Financial Inc. acquired a new stake in Globe Life during the fourth quarter worth about $61,238,000. Swedbank AB purchased a new position in Globe Life during the fourth quarter worth about $52,414,000. Proficio Capital Partners LLC grew its stake in shares of Globe Life by 11,153.5% in the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock valued at $49,635,000 after buying an additional 441,121 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after buying an additional 326,307 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % 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 on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $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. 1.51% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. 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 report on Wednesday, April 2nd. Piper Sandler increased their target price on shares of Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.45.

Globe Life Stock Down 4.5 %

NYSE GL traded down $5.55 during trading hours on Thursday, hitting $117.08. 198,560 shares of the company were exchanged, compared to its average volume of 1,407,286. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 9.79 and a beta of 0.60. The company has a 50 day moving average of $124.44 and a two-hundred day moving average of $115.07. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS 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%. Equities research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current 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 given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's payout ratio is 9.04%.

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.