M&T Bank Corp Has $2.32 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

M&T Bank Corp raised its stake in Globe Life Inc. (NYSE:GL - Free Report) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,769 shares of the company's stock after acquiring an additional 2,257 shares during the quarter. M&T Bank Corp's holdings in Globe Life were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. increased its position in Globe Life by 33.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,767 shares of the company's stock worth $187,000 after purchasing an additional 442 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Globe Life during the 3rd quarter worth approximately $450,000. State of New Jersey Common Pension Fund D raised its stake in shares of Globe Life by 2.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 37,983 shares of the company's stock worth $4,023,000 after buying an additional 971 shares during the last quarter. Versor Investments LP acquired a new position in Globe Life in the third quarter valued at approximately $360,000. Finally, Aigen Investment Management LP bought a new position in Globe Life in the third quarter valued at approximately $750,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 2.4 %

NYSE GL traded down $2.98 during trading on Monday, hitting $122.51. The stock had a trading volume of 693,408 shares, compared to its average volume of 612,722. The company has a market capitalization of $10.27 billion, a PE ratio of 10.25 and a beta of 0.77. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $131.39. The company's 50-day moving average price is $120.09 and its two-hundred day moving average price is $111.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

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Globe Life (NYSE:GL - Get Free Report) last announced its earnings results 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%. As a group, sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on GL shares. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price for the company. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $135.60.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company's stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company's stock.

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.