Ameriprise Financial Inc. Acquires 339,162 Shares of Globe Life Inc. (NYSE:GL)

Ameriprise Financial Inc. boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 58.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 917,994 shares of the company's stock after purchasing an additional 339,162 shares during the quarter. Ameriprise Financial Inc. owned about 1.09% of Globe Life worth $102,376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama increased its holdings in Globe Life by 6.4% in the 3rd quarter. Retirement Systems of Alabama now owns 19,702 shares of the company's stock worth $2,087,000 after buying an additional 1,179 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after purchasing an additional 8,663 shares during the last quarter. Diversified Trust Co bought a new position in Globe Life during the fourth quarter valued at approximately $356,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Globe Life by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company's stock worth $2,110,000 after purchasing an additional 144 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Globe Life in the 4th quarter worth approximately $244,000. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. Piper Sandler cut their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley dropped their price objective on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, six 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 price target of $137.00.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on 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 approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.

Globe Life Price Performance

GL traded up $0.74 during trading on Friday, reaching $121.97. 436,110 shares of the company traded hands, compared to its average volume of 875,882. The company has a market cap of $10.15 billion, a P/E ratio of 10.21 and a beta of 0.56. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a fifty day simple moving average of $123.62 and a 200 day simple moving average of $117.23.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.78 EPS. On average, equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio is currently 8.79%.

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.