Arrowstreet Capital Limited Partnership Purchases 36,051 Shares of Globe Life Inc. (NYSE:GL)

Arrowstreet Capital Limited Partnership lifted its position in shares of Globe Life Inc. (NYSE:GL) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,284,322 shares of the company’s stock after purchasing an additional 36,051 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.53% of Globe Life worth $143,228,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

Globe Life Trading Down 1.3 %

Shares of Globe Life stock opened at $129.65 on Monday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 10.85 and a beta of 0.77. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.98. 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 stock’s 50-day simple moving average is $123.98 and its 200 day simple moving average is $114.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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%. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. Globe Life’s payout ratio is 9.04%.

Insider Activity at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 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. In the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by company insiders.

Globe Life Company 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.