Deutsche Bank AG Grows Stock Holdings in Globe Life Inc. (NYSE:GL)

Deutsche Bank AG lifted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 62.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 420,970 shares of the company's stock after purchasing an additional 161,302 shares during the period. Deutsche Bank AG owned about 0.50% of Globe Life worth $46,947,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after purchasing an additional 326,307 shares during the last quarter. Invesco Ltd. increased its stake in Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock valued at $438,568,000 after purchasing an additional 223,282 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock valued at $177,615,000 after purchasing an additional 118,054 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Globe Life by 2.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock valued at $143,228,000 after purchasing an additional 36,051 shares during the last quarter. Finally, Nuance Investments LLC increased its stake in Globe Life by 8.3% in the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock valued at $137,623,000 after purchasing an additional 95,091 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 0.6%

Shares of Globe Life stock opened at $120.04 on Wednesday. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company's fifty day moving average is $123.41 and its two-hundred day moving average is $117.35. The company has a market capitalization of $9.99 billion, a P/E ratio of 10.05 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 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 company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company earned $2.78 EPS. Globe Life's revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GL shares. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company reduced their target price on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price for the company. Finally, Morgan Stanley reduced their target price on Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.00.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.51% of the company's stock.

About Globe Life

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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