Crestline Management LP Takes Position in Globe Life Inc. (NYSE:GL)

Crestline Management LP purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,770 shares of the company's stock, valued at approximately $978,000.

Several other large investors also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Globe Life during the 4th quarter worth about $61,238,000. Principal Financial Group Inc. raised its holdings in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after acquiring an additional 8,663 shares in the last quarter. Merit Financial Group LLC purchased a new position in Globe Life in the fourth quarter worth approximately $487,000. Prudential Financial Inc. grew its holdings in Globe Life by 50.0% during the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock worth $9,069,000 after acquiring an additional 27,590 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,395 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the firm'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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,317,529.88. This trade represents a 36.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.

Globe Life Stock Down 1.0%

Globe Life stock traded down $1.27 during midday trading on Monday, hitting $120.67. 566,685 shares of the company were exchanged, compared to its average volume of 874,646. The company has a market cap of $10.05 billion, a PE ratio of 10.10 and a beta of 0.56. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76. The company's fifty day moving average price is $123.62 and its 200-day moving average price is $117.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last announced its 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). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company posted $2.78 earnings per share. Globe Life's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on GL. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley cut their price target on Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Four 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.00.

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.