Marshall Wace LLP Acquires 457,802 Shares of Globe Life Inc. (NYSE:GL)

Marshall Wace LLP grew its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 1,702.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 484,692 shares of the company's stock after acquiring an additional 457,802 shares during the period. Marshall Wace LLP owned 0.58% of Globe Life worth $54,053,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Globe Life in the fourth quarter valued at about $112,454,000. Raymond James Financial Inc. bought a new stake in Globe Life during the 4th quarter worth about $61,238,000. Swedbank AB acquired a new stake in shares of Globe Life in the fourth quarter valued at approximately $52,414,000. Proficio Capital Partners LLC raised its position in Globe Life by 11,153.5% in the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock worth $49,635,000 after purchasing an additional 441,121 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Globe Life by 6.8% in the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after buying an additional 326,307 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GL. Morgan Stanley dropped their price objective on Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Piper Sandler increased their price target on Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Finally, JPMorgan Chase & Co. increased 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. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $137.55.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The stock was 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 directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.51% of the company's stock.

Globe Life Price Performance

GL stock traded up $1.42 during midday trading on Wednesday, reaching $123.10. The company had a trading volume of 123,792 shares, compared to its average volume of 1,055,394. 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 1-year low of $66.25 and a 1-year high of $133.76. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 10.30 and a beta of 0.60. The stock has a 50 day moving average price of $124.11 and a 200-day moving average price of $115.95.

Globe Life (NYSE:GL - Get Free Report) last released its 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 return on equity of 22.32% and a net margin of 18.53%. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.88%. Globe Life's dividend payout ratio is presently 9.04%.

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.