Globe Life Inc. (NYSE:GL) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,117,122 shares of the company's stock after purchasing an additional 326,307 shares during the quarter. Wellington Management Group LLP owned about 6.10% of Globe Life worth $570,661,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GL. State Street Corp boosted its stake in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after buying an additional 115,432 shares during the period. Geode Capital Management LLC increased its holdings in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock valued at $276,994,000 after purchasing an additional 89,299 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Globe Life by 2.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock worth $143,228,000 after purchasing an additional 36,051 shares in the last quarter. Nuance Investments LLC boosted its position in shares of Globe Life by 8.3% during the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after buying an additional 95,091 shares during the period. Finally, Norges Bank acquired a new stake in shares of Globe Life in the fourth quarter valued at $112,454,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction on 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 directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company's stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock valued at $7,239,630 over the last quarter. Company insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GL. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley upped their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Piper Sandler increased their price objective on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted 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. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and a consensus target price of $138.45.

Globe Life Stock Down 8.0 %

Shares of NYSE:GL traded down $10.21 during trading on Friday, hitting $117.30. 1,263,316 shares of the company were exchanged, compared to its average volume of 1,416,578. The firm's 50 day moving average price is $124.89 and its 200-day moving average price is $114.76. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $133.76. 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 stock has a market capitalization of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60.

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

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. 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.