DNB Asset Management AS Has $2.43 Million Stock Position in Globe Life Inc. (NYSE:GL)

DNB Asset Management AS reduced its position in shares of Globe Life Inc. (NYSE:GLFree Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,988 shares of the company’s stock after selling 290 shares during the period. DNB Asset Management AS’s holdings in Globe Life were worth $2,433,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Globe Life by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after buying an additional 1,973,186 shares during the last quarter. BlackRock Inc. grew its stake 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 worth $655,963,000 after purchasing an additional 57,587 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after purchasing an additional 168,127 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Globe Life by 2.2% in the second quarter. State Street Corp now owns 3,960,623 shares of the company’s stock worth $434,163,000 after purchasing an additional 84,122 shares during the last quarter. 80.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CMO Jennifer Allison Haworth sold 2,524 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $121.37, for a total transaction of $306,337.88. Following the completion of the transaction, the chief marketing officer now directly owns 8,606 shares of the company’s stock, valued at approximately $1,044,510.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.33% of the stock is currently owned by insiders.

Globe Life Stock Performance

Shares of GL opened at $117.95 on Wednesday. The firm’s fifty day simple moving average is $123.33 and its two-hundred day simple moving average is $118.76. Globe Life Inc. has a 12 month low of $102.23 and a 12 month high of $132.00. The stock has a market capitalization of $11.05 billion, a P/E ratio of 11.70 and a beta of 0.70. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GLGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that Globe Life Inc. will post 11.57 EPS for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 8.93%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GL shares. Truist Financial boosted their price objective on shares of Globe Life from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. StockNews.com raised shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Evercore ISI cut their price target on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating on the stock in a research report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Read Our Latest Stock Report on Globe Life

About Globe Life

(Free Report)

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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