Groupama Asset Managment Buys Shares of 16,374 Globe Life Inc. (NYSE:GL)

Groupama Asset Managment purchased a new position in Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,374 shares of the company’s stock, valued at approximately $1,800,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Rakuten Securities Inc. bought a new position in shares of Globe Life in the fourth quarter worth about $28,000. Albion Financial Group UT purchased a new position in Globe Life in the 4th quarter worth about $28,000. Avalon Trust Co bought a new stake in Globe Life during the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. 81.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Piper Sandler increased their price target on Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.45.

Insider Activity at Globe Life

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 in the last three months. 1.51% of the stock is owned by insiders.

Globe Life Trading Up 0.9 %

NYSE:GL opened at $133.30 on Thursday. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 11.15 and a beta of 0.77. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $135.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $124.75 and a 200 day moving average of $114.54.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.81%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is 9.04%.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.