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

UniSuper Management Pty Ltd increased its holdings in Globe Life Inc. (NYSE:GL) by 22.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,017 shares of the company’s stock after acquiring an additional 2,970 shares during the period. UniSuper Management Pty Ltd’s holdings in Globe Life were worth $1,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GL. Private Trust Co. NA raised its position in Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after acquiring an additional 84 shares during the period. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after purchasing an additional 88 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after purchasing an additional 100 shares during the period. Finally, Erste Asset Management GmbH increased its position in Globe Life by 3.7% in the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock worth $307,000 after buying an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 1.3 %

NYSE GL opened at $129.65 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $123.98 and a 200-day moving average of $114.00. The firm has a market cap of $10.79 billion, a PE ratio of 10.85 and a beta of 0.77. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.98.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 EPS 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 forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio is currently 9.04%.

Wall Street Analyst Weigh In

GL has been the subject of several research reports. Keefe, Bruyette & Woods increased their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Morgan Stanley lifted 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. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of the firm’s 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 sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s 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 in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 over the last ninety days. 1.51% of the stock is owned by insiders.

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.