Globe Life Inc. (NYSE:GL) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in Globe Life Inc. (NYSE:GL - Free Report) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,749 shares of the company's stock after buying an additional 27,590 shares during the quarter. Prudential Financial Inc. owned about 0.10% of Globe Life worth $9,069,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its position in shares of Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after purchasing an additional 136 shares during the period. Cerity Partners LLC boosted its position in shares of Globe Life by 283.7% during the third quarter. Cerity Partners LLC now owns 34,540 shares of the company's stock worth $3,658,000 after buying an additional 25,539 shares during the period. Private Trust Co. NA grew its stake in shares of Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after buying an additional 270 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Globe Life by 18.4% in the third quarter. Bank of Montreal Can now owns 95,559 shares of the company's stock valued at $9,976,000 after buying an additional 14,865 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Globe Life by 7.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,598 shares of the company's stock valued at $381,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

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Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life 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 transaction, 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 filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the 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 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. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last ninety days. Insiders own 1.51% of the company's stock.

Globe Life Stock Down 3.7 %

Globe Life stock traded down $4.90 during midday trading on Thursday, reaching $127.93. The company's stock had a trading volume of 132,182 shares, compared to its average volume of 1,418,954. The company has a market cap of $10.65 billion, a P/E ratio of 10.71 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $124.75 and a 200-day simple moving average of $114.54. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $135.00.

Globe Life (NYSE:GL - Get Free Report) last issued 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%. On average, research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. This is a boost 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 dividend yield of 0.84%. Globe Life's dividend payout ratio is presently 9.04%.

Analysts Set New Price Targets

A number of equities analysts recently commented on GL shares. Morgan Stanley raised their target price on Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Piper Sandler raised their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Five equities 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. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $138.45.

Globe Life 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.