Globe Life Inc. (NYSE:GL) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its position in Globe Life Inc. (NYSE:GLGet Rating) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,227 shares of the company’s stock after acquiring 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.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings 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 buying an additional 1,973,186 shares during the period. BlackRock Inc. lifted its holdings 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 buying an additional 57,587 shares during the period. State Street Corp lifted its holdings in shares of Globe Life by 1.6% during 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 last quarter. Invesco Ltd. lifted its holdings in shares of Globe Life by 36.3% during 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 last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of Globe Life by 6.8% during 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 last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Michael Shane Henrie sold 800 shares of the 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 is available at this link. In other news, insider John Henry Rogers, Jr. sold 3,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $102.70, for a total transaction of $308,100.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael Shane Henrie sold 800 shares of the 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. Insiders have sold a total of 66,963 shares of company stock valued at $6,924,008 in the last three months. Insiders own 4.62% of the company’s stock.

Analysts Set New Price Targets

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

Globe Life Stock Performance

Shares of GL stock opened at $103.74 on Thursday. 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 Inc. has a fifty-two week low of $85.25 and a fifty-two week high of $108.61. The stock’s 50-day moving average is $100.45 and its two-hundred day moving average is $99.08. The firm has a market cap of $10.11 billion, a P/E ratio of 14.76 and a beta of 0.88.

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

Globe Life Announces Dividend

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

Globe Life Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GLGet Rating).

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

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.