Northern Trust Corp Buys 26,398 Shares of Globe Life Inc. (NYSE:GL)

Northern Trust Corp grew its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 817,489 shares of the company's stock after acquiring an additional 26,398 shares during the quarter. Northern Trust Corp owned about 0.97% of Globe Life worth $91,166,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Globe Life during the fourth quarter worth about $61,238,000. Principal Financial Group Inc. lifted its holdings in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after acquiring an additional 8,663 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $487,000. Prudential Financial Inc. increased its stake in Globe Life by 50.0% in the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after acquiring an additional 27,590 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Globe Life by 61.5% during the fourth 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 in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

NYSE GL opened at $121.78 on Monday. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 10.19 and a beta of 0.56. Globe Life Inc. has a twelve month low of $76.55 and a twelve month high of $133.76. The stock has a fifty day simple moving average of $124.02 and a 200 day simple moving average of $116.84. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

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 analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business earned $2.78 earnings per share. Globe Life's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GL shares. Piper Sandler decreased their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday. BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price objective on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.09.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. The trade was a 36.73 % 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. Also, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

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.

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