Woodline Partners LP Invests $5.64 Million in Globe Life Inc. (NYSE:GL)

Woodline Partners LP acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,541 shares of the company's stock, valued at approximately $5,636,000. Woodline Partners LP owned about 0.06% of Globe Life as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Globe Life during the 4th quarter worth approximately $112,454,000. Raymond James Financial Inc. acquired a new position in shares of Globe Life in the fourth quarter worth $61,238,000. Swedbank AB purchased a new stake in shares of Globe Life during the fourth quarter worth $52,414,000. Freestone Grove Partners LP acquired a new stake in shares of Globe Life in the fourth quarter valued at $52,178,000. Finally, Marshall Wace LLP boosted its holdings in Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Down 1.9%

Shares of NYSE GL traded down $2.30 during mid-day trading on Wednesday, reaching $119.96. The company had a trading volume of 578,297 shares, compared to its average volume of 825,402. The firm has a 50 day simple moving average of $122.49 and a two-hundred day simple moving average of $118.34. Globe Life Inc. has a 52-week low of $76.55 and a 52-week high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.90 billion, a P/E ratio of 10.04 and a beta of 0.56.

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

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is 8.79%.

Analyst Upgrades and Downgrades

GL has been the topic of several recent research reports. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. 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 research report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on shares of Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Four research 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.73.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now owns 31,298 shares in the company, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by company insiders.

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.