JPMorgan Chase & Co. Sells 2,288 Shares of Globe Life Inc. (NYSE:GL)

JPMorgan Chase & Co. lowered its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,013 shares of the company's stock after selling 2,288 shares during the quarter. JPMorgan Chase & Co. owned 0.20% of Globe Life worth $18,737,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GL. WINTON GROUP Ltd bought a new position in Globe Life in the fourth quarter valued at approximately $5,971,000. Nuance Investments LLC increased its holdings in 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 purchasing an additional 95,091 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Globe Life by 50.0% in the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after purchasing an additional 27,590 shares in the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Globe Life during the fourth quarter worth about $392,000. Finally, LPL Financial LLC raised its position in Globe Life by 6.9% in the 4th quarter. LPL Financial LLC now owns 291,234 shares of the company's stock valued at $32,478,000 after buying an additional 18,799 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GL. Morgan Stanley decreased their price target on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Piper Sandler increased their price objective on shares of Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Finally, Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.55.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction dated 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 approximately $2,317,529.88. This trade represents a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the 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 of the company's stock, valued at $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 owned by company insiders.

Globe Life Price Performance

Shares of NYSE GL traded down $0.69 during mid-day trading on Wednesday, hitting $122.10. 45,491 shares of the stock traded hands, compared to its average volume of 1,134,888. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $10.16 billion, a PE ratio of 10.22 and a beta of 0.60. Globe Life Inc. has a twelve month low of $54.66 and a twelve month high of $133.76. The firm has a 50 day simple moving average of $124.32 and a two-hundred day simple moving average of $115.43.

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 (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%. As a group, equities research 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. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. Globe Life's dividend payout ratio is 9.04%.

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.