Globe Life Inc. (NYSE:GL) Stock Position Raised by Ballentine Partners LLC

Ballentine Partners LLC increased its position in Globe Life Inc. (NYSE:GL) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,803 shares of the company’s stock after purchasing an additional 121 shares during the period. Ballentine Partners LLC’s holdings in Globe Life were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Benjamin F. Edwards & Company Inc. grew its stake in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Globe Life by 105.5% during the second quarter. Canada Pension Plan Investment Board now owns 15,000 shares of the company’s stock valued at $1,234,000 after purchasing an additional 7,700 shares in the last quarter. ProShare Advisors LLC grew its position in Globe Life by 48.4% during the second quarter. ProShare Advisors LLC now owns 26,854 shares of the company’s stock valued at $2,210,000 after purchasing an additional 8,758 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Globe Life by 5.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,275 shares of the company’s stock valued at $1,175,000 after buying an additional 757 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Globe Life in the 2nd quarter worth approximately $6,752,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.8 %

GL stock opened at $119.37 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a 50-day moving average of $110.88 and a two-hundred day moving average of $104.40. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 10.10 and a beta of 0.80. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 in the last ninety days. 1.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GL has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Five equities 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 company’s stock. According to MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $132.18.

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.