National Bank of Canada FI Has $5.81 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

National Bank of Canada FI lifted its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 78.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,091 shares of the company's stock after purchasing an additional 22,872 shares during the period. National Bank of Canada FI owned approximately 0.06% of Globe Life worth $5,809,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GL. HighPoint Advisor Group LLC raised its holdings in shares of Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock valued at $276,000 after acquiring an additional 87 shares during the period. Franklin Resources Inc. raised its stake in Globe Life by 35.7% during the 4th quarter. Franklin Resources Inc. now owns 152,157 shares of the company's stock valued at $16,969,000 after purchasing an additional 40,037 shares during the period. Summit Financial LLC raised its stake in Globe Life by 26.0% during the 4th quarter. Summit Financial LLC now owns 3,154 shares of the company's stock valued at $352,000 after purchasing an additional 650 shares during the period. AIA Group Ltd purchased a new stake in shares of Globe Life in the fourth quarter valued at $271,000. Finally, Wellington Management Group LLP boosted its position in shares of Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock worth $570,661,000 after buying an additional 326,307 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on 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 increased their price target 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. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Morgan Stanley decreased their target price 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. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.55.

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Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Up 0.7 %

NYSE:GL traded up $0.86 during trading hours on Friday, reaching $119.46. The company's stock had a trading volume of 534,995 shares, compared to its average volume of 1,264,317. 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 $9.94 billion, a price-to-earnings ratio of 10.00 and a beta of 0.60. Globe Life Inc. has a one year low of $52.17 and a one year high of $133.76. The business's 50-day moving average is $124.30 and its 200-day moving average is $115.22.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) 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 predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a $0.27 dividend. This is a positive change from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life's dividend payout ratio (DPR) is currently 9.04%.

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.