Franklin Resources Inc. Increases Stock Position in Globe Life Inc. (NYSE:GL)

Franklin Resources Inc. lifted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 35.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,157 shares of the company's stock after purchasing an additional 40,037 shares during the quarter. Franklin Resources Inc. owned about 0.18% of Globe Life worth $16,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its stake in Globe Life by 12.5% during the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock worth $84,000 after acquiring an additional 84 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the last quarter. New Mexico Educational Retirement Board increased its position in Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after buying an additional 100 shares in the last quarter. Finally, Erste Asset Management GmbH raised its stake in Globe Life by 3.7% during the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company's stock valued at $307,000 after buying an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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Globe Life Stock Performance

GL stock traded up $0.86 during trading on Friday, reaching $119.46. The stock had a trading volume of 534,995 shares, compared to its average volume of 1,264,317. The firm has a market cap of $9.94 billion, a PE ratio of 10.00 and a beta of 0.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average is $124.30 and its two-hundred day moving average is $115.22. Globe Life Inc. has a 52 week low of $52.17 and a 52 week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. As a group, equities analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current 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 given a dividend of $0.27 per share. 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life's payout ratio is presently 9.04%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the company's 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. 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. Finally, Morgan Stanley decreased their price objective on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $137.55.

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.