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

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 4.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 255,285 shares of the company’s stock after buying an additional 11,275 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Globe Life were worth $25,453,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GL. Ronald Blue Trust Inc. acquired a new position in Globe Life during the 2nd quarter valued at about $26,000. Ellevest Inc. increased its position in Globe Life by 36.2% during the 3rd quarter. Ellevest Inc. now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 119 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new position in shares of Globe Life in the third quarter valued at about $84,000. Exchange Traded Concepts LLC acquired a new position in shares of Globe Life in the third quarter valued at about $104,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Globe Life by 8.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,238 shares of the company’s stock valued at $123,000 after purchasing an additional 94 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GL shares. Morgan Stanley increased their price objective on Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Piper Sandler upped their target price on Globe Life from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 20th. Raymond James lowered their target price on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Tuesday. Truist Financial upped their target price on Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, February 3rd. Finally, StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $129.14.

Insiders Place Their Bets

In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of the stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $102.98, for a total transaction of $1,235,760.00. Following the transaction, the chief executive officer now owns 730,792 shares in the company, valued at $75,256,960.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Larry M. Hutchison sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the transaction, the chief executive officer now owns 730,792 shares in the company, valued at $75,256,960.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Melissa Jane Buchan sold 1,900 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 81,658 shares in the company, valued at approximately $8,651,665.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,900 shares of company stock worth $12,593,525. 4.62% of the stock is owned by corporate insiders.

Globe Life Stock Performance

Shares of GL stock opened at $108.79 on Friday. The company has a market capitalization of $10.50 billion, a P/E ratio of 14.56 and a beta of 0.80. The business’s 50 day moving average is $119.46 and its two-hundred day moving average is $113.91. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.33. Globe Life Inc. has a 12-month low of $87.87 and a 12-month high of $123.85.

Globe Life (NYSE:GL – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company 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%. Globe Life’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. Analysts expect that Globe Life Inc. will post 10.37 EPS for the current fiscal year.

Globe Life Increases Dividend

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

Globe Life Company Profile

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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.