Russell Investments Group Ltd. Buys 9,028 Shares of Globe Life Inc. (NYSE:GL)

Russell Investments Group Ltd. increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,109 shares of the company's stock after buying an additional 9,028 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Globe Life worth $22,651,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.55.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction on 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 owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

Globe Life Trading Up 2.9 %

Shares of GL traded up $3.52 during mid-day trading on Monday, reaching $123.02. 74,098 shares of the company were exchanged, compared to its average volume of 1,162,179. 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 stock has a market capitalization of $10.24 billion, a PE ratio of 10.29 and a beta of 0.60. The business has a 50 day simple moving average of $124.30 and a two-hundred day simple moving average of $115.26. Globe Life Inc. has a 52 week low of $54.66 and a 52 week high of $133.76.

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

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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. This represents a $1.08 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's payout ratio is 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.