Invesco Ltd. Acquires 223,282 Shares of Globe Life Inc. (NYSE:GL)

Invesco Ltd. boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,932,637 shares of the company's stock after acquiring an additional 223,282 shares during the quarter. Invesco Ltd. owned 4.69% of Globe Life worth $438,568,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Globe Life by 6.8% during the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after purchasing an additional 326,307 shares during the period. State Street Corp grew its position in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its stake in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock valued at $276,994,000 after buying an additional 89,299 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Globe Life by 2.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock worth $143,228,000 after buying an additional 36,051 shares in the last quarter. Finally, Nuance Investments LLC raised its position in shares of Globe Life by 8.3% during the 4th quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after buying an additional 95,091 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

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Insider Activity

In related news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 38,973 shares in the company, 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Thursday. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Piper Sandler lifted their target price on Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.55.

Globe Life Trading Up 2.1 %

NYSE GL traded up $2.54 on Monday, hitting $122.04. 99,213 shares of the company were exchanged, compared to its average volume of 1,162,215. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a twelve month low of $54.66 and a twelve month high of $133.76. The firm has a market capitalization of $10.16 billion, a P/E ratio of 10.21 and a beta of 0.60. The company's 50 day moving average price is $124.30 and its 200-day moving average price is $115.26.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio (DPR) is 9.04%.

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.