LPL Financial LLC Has $32.48 Million Holdings in Globe Life Inc. (NYSE:GL)

LPL Financial LLC raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,234 shares of the company's stock after purchasing an additional 18,799 shares during the period. LPL Financial LLC owned about 0.35% of Globe Life worth $32,478,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Morgan Stanley raised their price target on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, 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. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $138.45.

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Globe Life Stock Performance

Shares of NYSE:GL traded down $5.76 on Thursday, hitting $127.33. The company's stock had a trading volume of 796,920 shares, compared to its average volume of 1,416,637. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $133.76. The stock's 50-day moving average is $124.93 and its two-hundred day moving average is $114.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 10.66 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating 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%. On average, 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 announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life's dividend payout ratio is 9.04%.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. This 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 available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,338 shares of company stock valued at $7,239,630. 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.