Artisan Partners Limited Partnership Boosts Holdings in Globe Life Inc. (NYSE:GL)

Artisan Partners Limited Partnership grew its stake in shares of Globe Life Inc. (NYSE:GL) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 680,129 shares of the company’s stock after acquiring an additional 352 shares during the quarter. Artisan Partners Limited Partnership owned about 0.81% of Globe Life worth $75,848,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GL. Private Trust Co. NA boosted its holdings in Globe Life by 12.5% in 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 during the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after purchasing an additional 88 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after purchasing an additional 100 shares during the period. Finally, Erste Asset Management GmbH increased its position in Globe Life by 3.7% during the 4th quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock worth $307,000 after purchasing an additional 100 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Shares of GL opened at $131.50 on Friday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.92. 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 $10.95 billion, a price-to-earnings ratio of 11.00 and a beta of 0.77. The business’s 50 day moving average is $123.76 and its two-hundred day moving average is $113.65.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (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%. Analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.82%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Analyst Ratings Changes

A number of research analysts have weighed in on GL shares. BMO Capital Markets assumed 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 target on the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Wells Fargo & Company upped their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five equities 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 MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of Globe Life 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 transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock valued at $7,239,630 over the last three months. 1.51% of the stock is owned by insiders.

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.