Robeco Institutional Asset Management B.V. Has $22.20 Million Stake in Globe Life Inc. (NYSE:GL)

Robeco Institutional Asset Management B.V. cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,419 shares of the company's stock after selling 113,365 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.19% of Globe Life worth $22,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GL. Cambridge Investment Research Advisors Inc. bought a new position in Globe Life in the third quarter worth $464,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Globe Life by 0.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,590 shares of the company's stock worth $2,891,000 after acquiring an additional 205 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Globe Life during the 3rd quarter valued at about $239,000. Fifth Third Bancorp increased its stake in Globe Life by 63.2% in the third quarter. Fifth Third Bancorp now owns 5,454 shares of the company's stock valued at $593,000 after acquiring an additional 2,112 shares during the period. Finally, Wealthfront Advisers LLC raised its position in Globe Life by 2.4% in the third quarter. Wealthfront Advisers LLC now owns 25,522 shares of the company's stock worth $2,775,000 after purchasing an additional 606 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company's stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Rodriguez bought 1,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now directly owns 4,192 shares of the company's stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GL shares. Keefe, Bruyette & Woods upgraded Globe Life from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Truist Financial dropped their price objective on Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Piper Sandler dropped their target price on shares of Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company reduced their price target on shares of Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.33.

Globe Life Price Performance

Shares of GL stock traded up $2.13 during trading hours on Friday, reaching $86.07. 2,300,674 shares of the company were exchanged, compared to its average volume of 3,538,817. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The stock's fifty day moving average is $93.67 and its two-hundred day moving average is $112.14. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 8.22 and a beta of 0.78.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. Sell-side analysts forecast that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. Globe Life's payout ratio is presently 9.17%.

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.