Russell Investments Group Ltd. Buys 9,028 Shares of Globe Life Inc. (NYSE:GL)

Russell Investments Group Ltd. boosted its position in Globe Life Inc. (NYSE:GL) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,109 shares of the company’s stock after buying an additional 9,028 shares during the period. Russell Investments Group Ltd. owned approximately 0.24% of Globe Life worth $22,651,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GL. Private Trust Co. NA increased its holdings in shares of Globe Life by 12.5% during the fourth quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after acquiring an additional 84 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock worth $276,000 after buying an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Globe Life by 4.0% in the fourth 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 90 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of 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 buying an additional 100 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly 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 Trading Down 0.6 %

Shares of GL stock opened at $113.62 on Wednesday. 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 firm has a market cap of $9.46 billion, a P/E ratio of 9.51 and a beta of 0.60. The company has a 50 day moving average of $124.42 and a 200-day moving average of $114.91. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $133.76.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Analyst Upgrades and Downgrades

GL has been the topic of several recent research reports. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Jefferies Financial Group increased their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 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. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.45.

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.