Robeco Institutional Asset Management B.V. Boosts Stock Position in Globe Life Inc. (NYSE:GL)

Robeco Institutional Asset Management B.V. grew its stake in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,285 shares of the company’s stock after buying an additional 11,275 shares during the period. Robeco Institutional Asset Management B.V. owned 0.26% of Globe Life worth $25,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GL. Wellington Management Group LLP raised its stake in Globe Life by 37.0% during the 1st 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. Invesco Ltd. raised its stake in Globe Life by 36.3% during the 1st 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. Los Angeles Capital Management LLC bought a new stake in Globe Life during the 3rd quarter valued at approximately $41,659,000. Parsifal Capital Management LP raised its stake in Globe Life by 92.0% during the 2nd quarter. Parsifal Capital Management LP now owns 836,400 shares of the company’s stock valued at $81,524,000 after purchasing an additional 400,753 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in Globe Life by 89.0% during the 3rd quarter. Ensign Peak Advisors Inc now owns 765,718 shares of the company’s stock valued at $76,341,000 after purchasing an additional 360,540 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In related news, insider Steven John Dichiaro sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $121.64, for a total transaction of $608,200.00. Following the completion of the transaction, the insider now owns 8,372 shares in the company, valued at approximately $1,018,370.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Steven John Dichiaro sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $121.64, for a total transaction of $608,200.00. Following the completion of the transaction, the insider now owns 8,372 shares in the company, valued at approximately $1,018,370.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melissa Jane Buchan sold 1,900 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $105.95, for a total value of $201,305.00. Following the transaction, the director now owns 81,658 shares of the company’s stock, valued at approximately $8,651,665.10. The disclosure for this sale can be found here. Insiders sold a total of 105,900 shares of company stock worth $12,593,525 in the last quarter. 4.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GL shares. Morgan Stanley lifted their price objective on Globe Life from $132.00 to $133.00 and gave the stock an “underweight” rating in a research note on Friday, February 24th. Credit Suisse Group lifted their price objective on Globe Life from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler lifted their price objective on Globe Life from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 20th. Finally, Truist Financial lifted their price objective on Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $129.14.

Globe Life Stock Performance

NYSE GL opened at $108.79 on Friday. The company has a market cap of $10.50 billion, a P/E ratio of 14.56 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.05 and a current ratio of 0.05. The business’s 50 day moving average price is $119.46 and its 200-day moving average price is $113.91. Globe Life Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $123.85.

Globe Life (NYSE:GL – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 15.03% and a net margin of 14.18%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. Sell-side analysts predict that Globe Life Inc. will post 10.37 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 3rd will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, March 31st. This represents a $0.90 dividend on an annualized basis and a yield of 0.83%. This is a boost from Globe Life’s previous quarterly dividend of $0.21. Globe Life’s payout ratio is presently 11.11%.

About Globe Life

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.