United Capital Financial Advisors LLC Increases Position in Globe Life Inc. (NYSE:GL)

United Capital Financial Advisors LLC lifted its position in shares of Globe Life Inc. (NYSE:GL) by 4.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,044 shares of the company’s stock after buying an additional 186 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Globe Life were worth $451,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after buying an additional 326,307 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Globe Life by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock valued at $438,568,000 after purchasing an additional 223,282 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Globe Life by 2.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company’s stock valued at $143,228,000 after purchasing an additional 36,051 shares in the last quarter. Nuance Investments LLC increased its holdings in shares of 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 purchasing an additional 95,091 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Globe Life in the fourth quarter worth about $112,454,000. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Wells Fargo & Company dropped their price target on Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Piper Sandler raised 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, April 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Four 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.55.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated 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 transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Globe Life stock opened at $121.09 on Monday. 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 company has a market capitalization of $10.08 billion, a PE ratio of 10.13 and a beta of 0.60. The company has a 50 day moving average price of $124.24 and a 200-day moving average price of $115.84. Globe Life Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $133.76.

Globe Life (NYSE:GL) last issued its 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 return on equity of 22.32% and a net margin of 18.53%. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio 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.