Wellington Management Group LLP Has $570.66 Million Holdings in Globe Life Inc. (NYSE:GL)

Wellington Management Group LLP lifted its stake in Globe Life Inc. (NYSE:GL) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,117,122 shares of the company’s stock after acquiring an additional 326,307 shares during the period. Wellington Management Group LLP owned approximately 6.10% of Globe Life worth $570,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GL. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Rakuten Securities Inc. bought a new position in Globe Life during the fourth quarter valued at about $28,000. Albion Financial Group UT acquired a new position in Globe Life in the 4th quarter valued at approximately $28,000. Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Jefferies Financial Group increased their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Stock Up 1.6 %

NYSE GL opened at $131.83 on Tuesday. The stock’s 50 day simple moving average is $124.25 and its 200 day simple moving average is $114.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.50. The firm has a market cap of $10.97 billion, a PE ratio of 11.03 and a beta of 0.77.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last quarter. 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.