DnB Asset Management AS Grows Stake in Globe Life Inc. (NYSE:GL)

DnB Asset Management AS grew its stake in shares of Globe Life Inc. (NYSE:GLGet Rating) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,227 shares of the company’s stock after buying an additional 200 shares during the period. DnB Asset Management AS’s holdings in Globe Life were worth $1,874,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares during the period. BlackRock Inc. grew its position in shares of Globe Life by 0.9% in the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after purchasing an additional 57,587 shares during the period. State Street Corp grew its position in shares of Globe Life by 1.6% in the fourth quarter. State Street Corp now owns 4,546,237 shares of the company’s stock valued at $426,073,000 after purchasing an additional 71,366 shares during the period. Invesco Ltd. grew its position in shares of Globe Life by 36.3% in the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock valued at $191,981,000 after purchasing an additional 508,064 shares during the period. Finally, Cooke & Bieler LP grew its position in shares of Globe Life by 6.8% in the first quarter. Cooke & Bieler LP now owns 1,875,816 shares of the company’s stock valued at $188,707,000 after purchasing an additional 119,545 shares during the period. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Globe Life Trading Up 0.1 %

Shares of GL opened at $103.74 on Thursday. The stock’s 50-day moving average is $100.45 and its two-hundred day moving average is $99.08. The stock has a market cap of $10.11 billion, a PE ratio of 14.76 and a beta of 0.88. Globe Life Inc. has a 12 month low of $85.25 and a 12 month high of $108.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GLGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Globe Life had a return on equity of 9.90% and a net margin of 13.68%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, October 6th. Globe Life’s payout ratio is 11.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $112.00 in a research report on Wednesday, June 15th. Morgan Stanley lifted their target price on Globe Life from $109.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, August 17th. JPMorgan Chase & Co. lifted their target price on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Piper Sandler lifted their target price on Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, July 8th. Finally, Raymond James assumed coverage on Globe Life in a report on Wednesday. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life has an average rating of “Hold” and an average price target of $110.86.

Insider Transactions at Globe Life

In other news, CAO Michael Shane Henrie sold 800 shares of Globe Life stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Steven John Dichiaro sold 10,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $102.30, for a total value of $1,023,000.00. Following the completion of the sale, the insider now directly owns 8,372 shares of the company’s stock, valued at $856,455.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michael Shane Henrie sold 800 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.64, for a total value of $80,512.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,963 shares of company stock valued at $6,924,008. 4.62% of the stock is currently owned by insiders.

Globe Life Profile

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Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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