Globe Life Inc. (NYSE:GL) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG completed a sale of 110,427 shares of Globe Life Inc., reducing its stake by 26.2%, leaving them with approximately 310,543 shares valued at $40.9 million.
• In its recent earnings report, Globe Life Inc. posted an EPS of $3.27, beating analyst expectations, but reported a revenue of $1.48 billion, slightly below consensus estimates.
• Globe Life Inc. declared a $0.27 quarterly dividend, with a yield of 0.8%, set to be paid on October 31st.

Deutsche Bank AG decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 26.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 310,543 shares of the company's stock after selling 110,427 shares during the period. Deutsche Bank AG owned about 0.37% of Globe Life worth $40,905,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after acquiring an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Globe Life during the first quarter valued at $493,000. Sequoia Financial Advisors LLC boosted its stake in shares of Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after acquiring an additional 21,136 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after acquiring an additional 723 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its stake in shares of Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after acquiring an additional 115,628 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

GL has been the topic of a number of analyst reports. Morgan Stanley raised Globe Life from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $135.00 to $166.00 in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Finally, Piper Sandler reduced their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Globe Life has an average rating of "Moderate Buy" and an average price target of $152.00.

Globe Life Trading Down 0.3%

Shares of Globe Life stock traded down $0.48 during trading hours on Thursday, reaching $138.52. The stock had a trading volume of 671,035 shares, compared to its average volume of 810,178. The firm has a 50 day simple moving average of $126.70 and a two-hundred day simple moving average of $124.21. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 11.07 and a beta of 0.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 1 year low of $95.09 and a 1 year high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. As a group, equities research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.63%.

Insider Buying and Selling

In related news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the sale, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,741 shares of company stock valued at $12,471,180. Corporate 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.