Tokio Marine Asset Management Co.Ltd. acquired a new stake in shares of Globe Life Inc. (NYSE: GL – Get Rating) during the fourth quarter, according to its latest 13F filing with the Securities & Exchange Commission. The fund acquired 2,007 shares of the company, valued at approximately $242,000.
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Other large investors have also changed their stake in the company. Ronald Blue Trust Inc. increased its stake in Globe Life by 72.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 409 shares of the company worth $41,000 after purchasing an additional 172 shares during the period. Ellevest Inc. increased its stake in Globe Life by 36.2% in the third quarter. Ellevest Inc. now owns 448 shares of the company valued at $45,000 after purchasing an additional 119 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Globe Life in the fourth quarter worth $53,000. Ameliora Wealth Management Ltd. acquired a new position in Globe Life during the third quarter worth $84,000. Finally, Exchange Traded Concepts LLC acquired a new position in Globe Life during the third quarter worth $104,000. 81.04% of the shares are currently held by institutional investors and hedge funds.
Analysts set new price targets
Several equity research analysts have recently weighed in on the stock. Piper Sandler raised her price target on Globe Life shares from $127.00 to $130.00 and gave the stock an “overweight” rating in a Tuesday, Dec. 20 report. Credit Suisse Group raised its price target on Globe Life shares from $130.00 to $140.00 and gave the company an “outperform” rating in a Monday, December 19 research note. Truist Financial raised its price target on Globe Life from $112.00 to $125.00 and gave the stock a “holding” rating in a Friday, Feb. 3 report. Raymond James cut his price target on Globe Life from $141.00 to $138.00 and set a “Strong Buy” rating for the company in a Tuesday, March 14 research report. Finally, Morgan Stanley raised its price target on Globe Life from $132.00 to $133.00 and gave the stock an “underweight” rating in a Friday, Feb. 24 report. One research analyst rated the stock with a sell rating, two gave a hold rating, four gave a buy rating and one gave the company’s stock a strong buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.14.
Insider Activity at Globe Life
In other news, CAO Michael Shane Henrie sold 2,225 Globe Life shares in a trade on Tuesday, March 21. The shares were sold at an average price of $110.29, for a total transaction of $245,395.25. As a result of the transaction, the chief accounting officer now directly owns 700 shares of the company, valued at $77,203. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Separately, director Melissa Jane Buchan sold 1,900 shares in a trade that took place on Thursday, March 16. The stock was sold at an average price of $105.95, for a total transaction of $201,305.00. Following the completion of the sale, the director now directly owns 81,658 shares of the company, valued at approximately $8,651,665.10. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. Additionally, CAO Michael Shane Henrie sold 2,225 shares of Globe Life in a trade that took place on Tuesday, March 21. The shares were sold at an average price of $110.29, for a total transaction of $245,395.25. Following completion of the transaction, the chief accounting officer now directly owns 700 shares of the company, valued at approximately $77,203. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 96,125 shares of the company worth $11,603,160. 4.33% of the shares are currently held by insiders of the company.
Globe Life Price Performance
GL shares opened at $107.74 on Monday. The company’s 50-day moving average price is $115.57 and its two-hundred-day moving average price is $114.97. 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. The stock has a market capitalization of $10.40 billion, a PE ratio of 14.42 and a beta of 0.79.
Globe Life (NYSE:GL – Get Rating) last released its quarterly results on Wednesday, February 1. The company reported earnings per share (EPS) of $2.24 for the quarter, beating the consensus estimate of $2.17 by $0.07. The company posted revenue of $1.32 billion for the quarter, compared to analysts’ estimates 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 increased 2.0% year-over-year. During the same period last year, the company achieved EPS of $1.70. As a group, analysts expect Globe Life Inc. to post EPS of 10.35 for the current year.
Globe Life increases its dividend
The company also recently announced 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 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 31. This represents an annualized dividend of $0.90 and a yield of 0.84%. Globe Life’s dividend payout ratio (DPR) is currently 12.05%.
About 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.
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