World Investment Advisors Raises Stake in Globe Life Inc. (NYSE:GL)

World Investment Advisors raised its position in Globe Life Inc. (NYSE:GL) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,920 shares of the company’s stock after buying an additional 216 shares during the quarter. World Investment Advisors’ holdings in Globe Life were worth $660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Centiva Capital LP acquired a new position in Globe Life in the third quarter valued at approximately $376,000. Quantinno Capital Management LP boosted its holdings in shares of Globe Life by 40.4% in the 3rd quarter. Quantinno Capital Management LP now owns 12,501 shares of the company’s stock valued at $1,324,000 after buying an additional 3,600 shares in the last quarter. Stifel Financial Corp grew its position in shares of Globe Life by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 245,930 shares of the company’s stock valued at $26,046,000 after buying an additional 6,935 shares during the last quarter. State Street Corp raised its stake in Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Globe Life by 27.0% in the third quarter. National Bank of Canada FI now owns 29,219 shares of the company’s stock valued at $3,095,000 after acquiring an additional 6,210 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $117.30 on Monday. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $133.76. The company has a 50-day moving average price of $124.89 and a 200 day moving average price of $114.82. The company has a market cap of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Analysts Set New Price Targets

GL has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.45.

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.