UniSuper Management Pty Ltd Purchases 2,970 Shares of Globe Life Inc. (NYSE:GL)

UniSuper Management Pty Ltd grew its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,017 shares of the company's stock after acquiring an additional 2,970 shares during the quarter. UniSuper Management Pty Ltd's holdings in Globe Life were worth $1,786,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock valued at $276,994,000 after buying an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock valued at $160,949,000 after buying an additional 277,108 shares in the last quarter. Nuance Investments LLC raised its position in Globe Life by 8.3% in the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after acquiring an additional 95,091 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Globe Life by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company's stock valued at $69,922,000 after acquiring an additional 4,230 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

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Analyst Ratings Changes

A number of research firms recently commented on GL. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $138.45.

Globe Life Price Performance

Globe Life stock traded down $9.01 during mid-day trading on Friday, hitting $118.50. 223,051 shares of the company were exchanged, compared to its average volume of 634,136. The business has a fifty day moving average of $124.93 and a 200 day moving average of $114.63. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $133.76. The company has a market capitalization of $9.86 billion, a PE ratio of 9.92 and a beta of 0.77.

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 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 expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.91%. This is a positive change from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio is currently 9.04%.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of the business'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 transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,338 shares of company stock valued at $7,239,630. 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.