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

UniSuper Management Pty Ltd grew its stake in Globe Life Inc. (NYSE:GL) by 22.8% during the 4th quarter, HoldingsChannel reports. The fund owned 16,017 shares of the company’s stock after purchasing 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of GL. Versant Capital Management Inc raised its position in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Globe Life in the fourth quarter worth about $28,000. Albion Financial Group UT bought a new position in shares of Globe Life in the fourth quarter worth approximately $28,000. Avalon Trust Co bought a new position in shares of Globe Life in the fourth quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% during the fourth 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. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GL. Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI raised 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 report on Wednesday, January 8th. Morgan Stanley upped their target price on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. 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 research analysts have rated the stock with a hold rating, five have issued 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 a consensus target price of $135.60.

Insider Buying and Selling at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction on 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 transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,338 shares of company stock valued at $7,239,630. Company insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $129.65 on Monday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.79 billion, a PE ratio of 10.85 and a beta of 0.77. The firm’s 50 day moving average price is $123.98 and its 200-day moving average price is $114.00. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.98.

Globe Life (NYSE:GL) last released its quarterly earnings results 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%. Equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

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