Groupama Asset Managment Purchases Shares of 16,374 Globe Life Inc. (NYSE:GL)

Groupama Asset Managment purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 16,374 shares of the company's stock, valued at approximately $1,800,000.

Several other hedge funds have also added to or reduced their stakes in GL. Private Trust Co. NA lifted its holdings in shares of 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 buying an additional 84 shares in the last quarter. HighPoint Advisor Group LLC increased its position in Globe Life by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock valued at $276,000 after acquiring an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Globe Life by 4.0% during 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 during the last quarter. EverSource Wealth Advisors LLC raised its stake in Globe Life by 32.7% during the fourth 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. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

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Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through 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 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 approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Down 2.7 %

GL stock traded down $3.22 during trading on Monday, reaching $114.01. The stock had a trading volume of 478,628 shares, compared to its average volume of 1,412,626. 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 company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 9.53 and a beta of 0.60. Globe Life Inc. has a one year low of $38.95 and a one year high of $133.76. The company's 50 day moving average is $124.89 and its two-hundred day moving average is $114.82.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current 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 paid a $0.27 dividend. This is a boost from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, April 3rd. Globe Life's payout ratio is currently 9.04%.

Analysts Set New Price Targets

A number of research firms have commented on GL. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. 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. JPMorgan Chase & Co. raised 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. Morgan Stanley upped their price target on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Five research 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 company. According to data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and an average price target of $138.45.

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.