National Bank of Canada FI increased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,273 shares of the company's stock after buying an additional 2,182 shares during the quarter. National Bank of Canada FI owned about 0.07% of Globe Life worth $7,149,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock worth $177,615,000 after purchasing an additional 118,054 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Globe Life by 58.6% in the fourth quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock worth $102,376,000 after purchasing an additional 339,162 shares during the last quarter. Northern Trust Corp raised its stake in shares of Globe Life by 3.3% in the fourth quarter. Northern Trust Corp now owns 817,489 shares of the company's stock worth $91,166,000 after purchasing an additional 26,398 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Globe Life by 15,553.5% in the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after purchasing an additional 776,895 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Globe Life by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after purchasing an additional 3,312 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Globe Life Price Performance
Shares of NYSE GL opened at $138.92 on Thursday. The stock has a fifty day simple moving average of $126.33 and a two-hundred day simple moving average of $124.09. Globe Life Inc. has a 1-year low of $93.09 and a 1-year high of $144.00. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 11.10 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 (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.02. The firm 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 business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 earnings per share. Analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.
Globe Life Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio is currently 8.63%.
Insider Buying and Selling
In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares in the company, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the sale, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,741 shares of company stock worth $12,471,180. Insiders own 1.51% of the company's stock.
Analyst Ratings Changes
GL has been the subject of several recent analyst reports. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Wells Fargo & Company upped their target price on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Morgan Stanley raised Globe Life from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $135.00 to $166.00 in a report on Tuesday, August 5th. Finally, Cfra Research raised Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued 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.
Check Out Our Latest Report on Globe Life
Globe Life Company Profile
(
Free Report)
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.
Further Reading
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