First Trust Advisors LP Purchases 28,079 Shares of Globe Life Inc. (NYSE:GL)

First Trust Advisors LP grew its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,899 shares of the company's stock after purchasing an additional 28,079 shares during the period. First Trust Advisors LP owned about 0.36% of Globe Life worth $33,333,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Globe Life by 3.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 48,608 shares of the company's stock valued at $5,414,000 after buying an additional 1,731 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Globe Life by 23.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 138,600 shares of the company's stock valued at $15,457,000 after acquiring an additional 26,000 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Globe Life by 1,702.5% in the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after acquiring an additional 457,802 shares in the last quarter. United Capital Financial Advisors LLC grew its position in Globe Life by 4.8% during the 4th quarter. United Capital Financial Advisors LLC now owns 4,044 shares of the company's stock worth $451,000 after purchasing an additional 186 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Globe Life during the 4th quarter worth approximately $4,336,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price for the company. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Piper Sandler boosted their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $137.55.

Globe Life Stock Down 0.8 %

GL stock traded down $0.96 during trading hours on Friday, hitting $122.96. The company's stock had a trading volume of 353,906 shares, compared to its average volume of 964,619. The stock has a 50 day moving average price of $124.15 and a two-hundred day moving average price of $116.40. Globe Life Inc. has a 12 month low of $71.50 and a 12 month high of $133.76. The company has a market capitalization of $10.24 billion, a PE ratio of 10.29 and a beta of 0.60. 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 posted its earnings results 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 net margin of 18.53% and a return on equity of 22.32%. On average, equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. Globe Life's payout ratio is currently 9.04%.

Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company's stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $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. Insiders own 1.51% of the company's stock.

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.