Globe Life Inc. (NYSE:GL) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its position in Globe Life Inc. (NYSE:GL - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,133 shares of the company's stock after acquiring an additional 10,590 shares during the period. DekaBank Deutsche Girozentrale owned 0.18% of Globe Life worth $19,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Globe Life by 685.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,209 shares of the company's stock worth $135,000 after buying an additional 1,055 shares during the last quarter. Amundi raised its position in Globe Life by 57.6% in the fourth quarter. Amundi now owns 186,112 shares of the company's stock valued at $21,239,000 after purchasing an additional 68,004 shares during the period. Daiwa Securities Group Inc. raised its position in Globe Life by 41.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 69,696 shares of the company's stock valued at $7,773,000 after purchasing an additional 20,530 shares during the period. Natural Investments LLC purchased a new stake in Globe Life in the fourth quarter valued at $356,000. Finally, HighTower Advisors LLC raised its position in Globe Life by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock valued at $2,454,000 after purchasing an additional 406 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on GL shares. Wells Fargo & Company lifted their target price on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley upped their price target on Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler dropped 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, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and an average target price of $139.55.

Globe Life Price Performance

Shares of NYSE GL traded down $0.53 during trading on Friday, reaching $118.60. The company had a trading volume of 158,529 shares, compared to its average volume of 708,461. Globe Life Inc. has a twelve month low of $83.38 and a twelve month high of $133.76. The stock has a market capitalization of $9.79 billion, a PE ratio of 9.64 and a beta of 0.56. The stock has a 50-day moving average price of $121.02 and a two-hundred day moving average price of $121.11. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. Globe Life's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.78 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.91%. Globe Life's dividend payout ratio is presently 8.79%.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer directly owned 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.51% of the stock is owned by corporate insiders.

Globe Life 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.