Globe Life Inc. (NYSE:GL) Holdings Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,309 shares of the company's stock after buying an additional 18,043 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Globe Life worth $6,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First National Bank of Hutchinson raised its holdings in Globe Life by 3.7% during the fourth quarter. First National Bank of Hutchinson now owns 14,909 shares of the company's stock worth $1,663,000 after purchasing an additional 538 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Globe Life in the 4th quarter worth about $45,000. Avalon Trust Co acquired a new stake in Globe Life in the 4th quarter valued at about $41,000. Catalyst Funds Management Pty Ltd purchased a new position in Globe Life during the 4th quarter valued at about $323,000. Finally, Erste Asset Management GmbH raised its position in Globe Life by 3.7% during the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company's stock worth $307,000 after acquiring an additional 100 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.7 %

Globe Life stock traded up $0.97 during trading on Thursday, reaching $131.50. 564,197 shares of the company's stock were exchanged, compared to its average volume of 1,393,725. The company's 50-day moving average is $123.47 and its two-hundred day moving average is $113.52. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 11.00 and a beta of 0.77. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.50. 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 issued its quarterly earnings data 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 net margin of 18.53% and a return on equity of 22.32%. On average, analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's payout ratio is presently 9.04%.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GL shares. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley upped their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $135.60.

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.