Jump Financial LLC Buys Shares of 38,883 Globe Life Inc. (NYSE:GL)

Jump Financial LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,883 shares of the company's stock, valued at approximately $4,336,000.

Several other large investors also recently added to or reduced their stakes in GL. Raymond James Financial Inc. purchased a new stake in Globe Life during the 4th quarter worth about $61,238,000. Principal Financial Group Inc. boosted its position in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after acquiring an additional 8,663 shares during the period. Merit Financial Group LLC bought a new position in shares of Globe Life in the fourth quarter valued at approximately $487,000. Prudential Financial Inc. grew its stake in Globe Life by 50.0% during the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after acquiring an additional 27,590 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after acquiring an additional 9,395 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

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

Globe Life Trading Up 2.5 %

NYSE GL traded up $2.92 on Tuesday, hitting $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 current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 52-week low of $66.25 and a 52-week high of $133.76. The firm has a market cap of $10.00 billion, a P/E ratio of 10.04 and a beta of 0.60. The company's 50-day simple moving average is $124.15 and its 200 day simple moving average is $115.91.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS 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%. Research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 positive change from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's payout ratio is currently 9.04%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction dated 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 $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

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.