Franklin Resources Inc. Acquires 40,037 Shares of Globe Life Inc. (NYSE:GL)

Franklin Resources Inc. raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 35.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,157 shares of the company’s stock after buying an additional 40,037 shares during the period. Franklin Resources Inc. owned about 0.18% of Globe Life worth $16,969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT bought a new stake in Globe Life in the 4th quarter worth $28,000. Rakuten Securities Inc. purchased a new position in shares of Globe Life in the fourth quarter valued at about $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the fourth quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Price Performance

Shares of GL opened at $114.21 on Tuesday. The firm has a 50 day moving average of $124.75 and a 200 day moving average of $114.87. 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 Inc. has a twelve month low of $38.95 and a twelve month high of $133.76. The company has a market capitalization of $9.51 billion, a P/E ratio of 9.56 and a beta of 0.60.

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

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is presently 9.04%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GL shares. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective 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. Finally, Jefferies Financial Group raised their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $138.45.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

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.