Rhumbline Advisers Purchases 8,531 Shares of Globe Life Inc. (NYSE:GL)

Rhumbline Advisers grew its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,018 shares of the company's stock after acquiring an additional 8,531 shares during the quarter. Rhumbline Advisers owned 0.25% of Globe Life worth $27,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GL. Rakuten Securities Inc. bought a new stake in shares of Globe Life during the 4th quarter worth $28,000. Avalon Trust Co purchased a new stake in Globe Life during the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC raised its position in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after acquiring an additional 90 shares during the period. Platinum Investment Management Ltd. purchased a new position in Globe Life in the fourth quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Globe Life during the 4th quarter valued at approximately $68,000. Institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. 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. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.73.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now directly owns 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Price Performance

NYSE GL traded up $1.98 on Friday, hitting $121.75. The stock had a trading volume of 336,225 shares, compared to its average volume of 767,436. The firm has a 50-day moving average of $121.25 and a 200-day moving average of $118.83. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 10.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $2.78 EPS. Globe Life's quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

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.