4,707 Shares in Globe Life Inc. (NYSE:GL) Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,707 shares of the company's stock, valued at approximately $584,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of Globe Life by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock valued at $2,454,000 after acquiring an additional 406 shares during the period. Sequoia Financial Advisors LLC increased its stake in Globe Life by 17.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,048 shares of the company's stock valued at $340,000 after purchasing an additional 446 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Globe Life by 32.7% during 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. Platinum Investment Management Ltd. bought a new stake in Globe Life during the 4th quarter valued at $45,000. Finally, First National Bank of Hutchinson increased its stake in Globe Life by 3.7% during the 4th quarter. First National Bank of Hutchinson now owns 14,909 shares of the company's stock valued at $1,663,000 after purchasing an additional 538 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent analyst reports. Morgan Stanley set a $127.00 target price on shares of Globe Life and gave the stock an "equal weight" rating in a research note on Monday. Truist Financial initiated coverage on shares of Globe Life in a research note on Tuesday. They issued a "buy" rating and a $150.00 target price for the company. Wells Fargo & Company upped their target price on shares of Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.82.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer owned 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.97% of the company's stock.

Globe Life Price Performance

GL traded up $2.20 on Wednesday, reaching $119.94. The company had a trading volume of 404,650 shares, compared to its average volume of 705,680. The business has a 50 day simple moving average of $120.88 and a 200 day simple moving average of $121.36. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 9.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 52-week low of $86.10 and a 52-week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $2.78 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio is 8.79%.

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.