National Bank of Canada FI buys 24,895 shares of Globe Life Inc. (NYSE:GL) [Boss Insurance]

National Bank of Canada FI increased its position in Globe Life Inc. (NYSE: GL – Get Rating) by 4,445.5% in the 4th quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission ( DRY). The fund held 25,455 shares of the company after purchasing an additional 24,895 shares during the period. National Bank of Canada IF’s holdings in Globe Life were worth $3,069,000 at the end of the most recent reporting period.

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Other major investors have also recently changed their positions in the company. OLD National Bancorp IN increased its stake in Globe Life by 4.7% in the third quarter. OLD National Bancorp IN now owns 6,152 shares of the company valued at $613,000 after buying an additional 278 shares in the last quarter. Metis Global Partners LLC purchased a new stake in shares of Globe Life during the third quarter valued at approximately $205,000. Maryland State Retirement & Pension System purchased a new stake in Globe Life during the fourth quarter valued at $840,000. Guggenheim Capital LLC increased its position in Globe Life by 5.7% in the third quarter. Guggenheim Capital LLC now owns 16,174 shares of the company worth $1,613,000 after purchasing an additional 869 shares in the last quarter. Finally, Robeco Institutional Asset Management BV increased its stake in Globe Life by 4.6% in the third quarter. Robeco Institutional Asset Management BV now owns 255,285 shares of the company valued at US$25,453,000 after purchasing an additional 11,275 shares during the period. 81.04% of the shares are held by institutional investors.

Insider Activity at Globe Life

In other Globe Life news, Executive Vice President Robert Brian Mitchell sold 38,000 shares of the company in a trade dated Monday, February 27. The stock was sold at an average price of $121.45, for a total value of $4,615,100.00. Following the transaction, the executive vice president now directly owns 4,310 shares of the company, valued at approximately $523,449.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Separately, insider Steven John Dichiaro sold 5,000 shares of the company in a trade on Wednesday, February 8. The shares were sold at an average price of $121.64, for a total value of $608,200.00. Following the completion of the transaction, the insider now directly owns 8,372 shares of the company, valued at $1,018,370.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President Robert Brian Mitchell sold 38,000 shares in a trade on Monday, February 27. The shares were sold at an average price of $121.45, for a total value of $4,615,100.00. Following the completion of the transaction, the executive vice president now directly owns 4,310 shares of the company, valued at approximately $523,449.50. The disclosure of this sale can be found here. During the last quarter, insiders sold 96,125 shares of the company worth $11,603,160. Insiders of the company own 4.33% of the shares of the company.

Performance of Globe Life shares

NYSE: GL opened at $107.74 on Friday. The company’s 50-day moving average is $115.57 and its 200-day moving average is $114.89. The company has a market capitalization of $10.40 billion, a price-earnings ratio of 14.42 and a beta of 0.79. The company has a debt ratio of 0.33, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 52-week low of $87.87 and a 52-week high of $123.85.

Globe Life (NYSE:GL – Get Rating) last announced its quarterly results on Wednesday, February 1. The company reported earnings per share (EPS) of $2.24 for the quarter, beating analyst consensus estimates of $2.17 by $0.07. The company posted revenue of $1.32 billion for the quarter, versus a consensus estimate of $1.33 billion. Globe Life had a net margin of 14.18% and a return on equity of 15.03%. The company’s revenue for the quarter increased 2.0% year over year. In the same period a year earlier, the company posted earnings per share of $1.70. Research analysts predict Globe Life Inc. will post EPS of 10.35 for the current year.

Globe Life increases its dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1. Investors of record on Monday, April 3 will receive a dividend of $0.225. This represents a dividend of $0.90 on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, March 31. This is an increase from Globe Life’s previous quarterly dividend of $0.21. Globe Life’s dividend payout ratio (DPR) is 12.05%.

Changes to analyst ratings

GL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised its price target on Globe Life shares from $112.00 to $126.00 and gave the stock an “overweight” rating in a Friday, Jan. 6, report. Raymond James cut his price target on Globe Life shares from $141.00 to $138.00 and set a “Strong Buy” rating for the company in a Tuesday, March 14 research report. Truist Financial raised its price target on Globe Life shares from $112.00 to $125.00 and gave the stock a “holding” rating in a Friday, Feb. 3 report. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a Wednesday, March 15 report. Finally, Credit Suisse Group raised its price target on Globe Life from $130.00 to $140.00 and gave the company an “outperform” rating in a Monday, Dec. 19 research note. One analyst gave the stock a sell rating, two gave the stock a hold rating, four gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.14.

Profile of Globe Life

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Globe Life, Inc. is a holding company that provides individual life and supplemental health insurance products and services. It operates through the following segments: life insurance, supplementary health insurance, annuities and investments. The life insurance segment includes traditional and interest rate sensitive whole life insurance as well as term life insurance.