Bridgewater Associates LP Lowers Position in Globe Life Inc. (NYSE:GL)

Bridgewater Associates LP decreased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,225 shares of the company's stock after selling 3,335 shares during the quarter. Bridgewater Associates LP owned 0.09% of Globe Life worth $8,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GL. Norges Bank purchased a new stake in Globe Life in the fourth quarter worth about $112,454,000. Raymond James Financial Inc. purchased a new position in Globe Life during the fourth quarter valued at approximately $61,238,000. Swedbank AB bought a new position in Globe Life in the fourth quarter worth approximately $52,414,000. Proficio Capital Partners LLC increased its holdings 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 acquiring an additional 441,121 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock worth $570,661,000 after purchasing an additional 326,307 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the business'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 transaction 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. The trade was a 38.97 % 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 11,000 shares of the firm'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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Stock Up 2.5 %

GL traded up $2.92 on Tuesday, reaching $120.09. The company's stock had a trading volume of 61,669 shares, compared to its average volume of 1,069,625. 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 stock has a 50 day moving average of $124.15 and a two-hundred day moving average of $115.91. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 10.04 and a beta of 0.60. Globe Life Inc. has a fifty-two week low of $66.25 and a fifty-two 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, 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%. As a group, analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.90%. This is a positive change from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is 9.04%.

Analyst Ratings Changes

GL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price 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. Wells Fargo & Company cut their price objective on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley decreased their price target on Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and an average price target of $137.55.

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.