M&T Bank Corp Has $2.32 Million Stake in Globe Life Inc. (NYSE:GL)

M&T Bank Corp boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,769 shares of the company’s stock after purchasing an additional 2,257 shares during the quarter. M&T Bank Corp’s holdings in Globe Life were worth $2,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc boosted its position in Globe Life by 388.0% during the fourth 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. Albion Financial Group UT bought a new position in Globe Life during the fourth quarter worth $28,000. True Wealth Design LLC bought a new position in Globe Life during the third quarter worth $59,000. Private Trust Co. NA boosted its position in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares during the period. Finally, Plato Investment Management Ltd bought a new position in Globe Life during the fourth quarter worth $84,000. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 over the last quarter. 1.51% of the stock is owned by company insiders.

Globe Life Trading Up 0.9 %

GL opened at $125.55 on Monday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The company has a 50-day simple moving average of $119.84 and a 200 day simple moving average of $111.47. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.86%. Globe Life’s dividend payout ratio is currently 9.04%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.60.

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.