Globe Life Inc. (NYSE:GL) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 312.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,892 shares of the company's stock after purchasing an additional 9,012 shares during the quarter. iA Global Asset Management Inc.'s holdings in Globe Life were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GL. Versant Capital Management Inc increased its position in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Globe Life in the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Avalon Trust Co purchased a new stake in shares of Globe Life during the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 valued at $41,000 after acquiring an additional 90 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.5 %

NYSE:GL traded up $0.70 during mid-day trading on Wednesday, reaching $130.60. The company's stock had a trading volume of 629,110 shares, compared to its average volume of 1,395,611. 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 Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a fifty day moving average of $123.18 and a 200-day moving average of $113.40. The firm has a market capitalization of $10.87 billion, a PE ratio of 10.93 and a beta of 0.77.

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Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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%. Equities research analysts forecast 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. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.83%. Globe Life's dividend payout ratio (DPR) is currently 9.04%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the sale, the chief marketing officer now directly owns 13,485 shares of the company's stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,338 shares of company stock valued at $7,239,630. Corporate insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective 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. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. 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 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Globe Life presently has an average rating of "Moderate Buy" and an average price target of $135.60.

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.