WBI Investments LLC Invests $2.10 Million in Globe Life Inc. (NYSE:GL)

WBI Investments LLC purchased a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,831 shares of the company's stock, valued at approximately $2,100,000.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its position in Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after acquiring an additional 326,307 shares during the period. Invesco Ltd. lifted its stake in Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock valued at $438,568,000 after buying an additional 223,282 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Globe Life by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock worth $177,615,000 after purchasing an additional 118,054 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Globe Life by 2.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock worth $143,228,000 after buying an additional 36,051 shares in the last quarter. Finally, Nuance Investments LLC grew its holdings in shares of Globe Life by 8.3% during the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock worth $137,623,000 after buying an additional 95,091 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Down 0.6%

GL stock traded down $0.72 during trading on Thursday, hitting $119.48. The company had a trading volume of 523,342 shares, compared to its average volume of 836,157. The business has a 50-day moving average of $123.09 and a 200-day moving average of $117.91. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76. The stock has a market cap of $9.86 billion, a PE ratio of 10.00 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $2.78 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. Research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. 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 price objective for the company. Finally, Morgan Stanley lifted their price objective on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.73.

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.