250 Shares in Globe Life Inc. (NYSE:GL) Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 250 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Versor Investments LP bought a new position in shares of Globe Life in the third quarter worth $360,000. Aigen Investment Management LP bought a new position in Globe Life in the 3rd quarter valued at about $750,000. Victory Capital Management Inc. increased its stake in Globe Life by 38.9% during the 3rd quarter. Victory Capital Management Inc. now owns 421,018 shares of the company’s stock valued at $44,590,000 after buying an additional 117,839 shares during the period. CIBC Asset Management Inc raised its position in shares of Globe Life by 13.3% during the 3rd quarter. CIBC Asset Management Inc now owns 12,777 shares of the company’s stock worth $1,353,000 after buying an additional 1,495 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Globe Life by 4.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,060 shares of the company’s stock worth $1,171,000 after acquiring an additional 471 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE GL opened at $121.92 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39. The stock’s 50-day moving average price is $120.57 and its two-hundred day moving average price is $111.88. The company has a market cap of $10.22 billion, a PE ratio of 10.20 and a beta of 0.77. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued 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 net margin of 18.53% and a return on equity of 22.32%. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently announced 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. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. 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. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Insider Activity

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GL has been the topic of a number of research analyst reports. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Wells Fargo & Company lifted their price target on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

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.