Teacher Retirement System of Texas Grows Stock Holdings in Globe Life Inc. (NYSE:GL)

Teacher Retirement System of Texas raised its position in shares of Globe Life Inc. (NYSE:GL) by 44.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,309 shares of the company’s stock after buying an additional 18,043 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Globe Life worth $6,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the period. Geode Capital Management LLC boosted its position in shares of Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Globe Life by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock worth $85,747,000 after buying an additional 56,673 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Globe Life by 0.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock valued at $69,922,000 after purchasing an additional 4,230 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GL. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upgraded 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 report on Wednesday, January 8th. Finally, Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the business’s 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 transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were 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 owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Down 1.4 %

Globe Life stock opened at $126.86 on Monday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. 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 stock has a market cap of $10.64 billion, a PE ratio of 10.62 and a beta of 0.77. The stock’s fifty day moving average is $122.53 and its two-hundred day moving average is $113.03.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 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%. On average, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company 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 dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is 9.04%.

About Globe Life

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.