Swiss National Bank Has $19.69 Million Stake in Globe Life Inc. (NYSE:GL)

Swiss National Bank reduced its holdings in Globe Life Inc. (NYSE:GL) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,600 shares of the company’s stock after selling 3,600 shares during the period. Swiss National Bank owned 0.21% of Globe Life worth $19,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc increased its stake in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT acquired a new stake in Globe Life in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new stake in Globe Life in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 90 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of Globe Life in the 3rd quarter valued at about $59,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GL shares. BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Price Performance

Shares of Globe Life stock opened at $126.94 on Wednesday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. 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 company has a 50-day simple moving average of $121.69 and a two-hundred day simple moving average of $112.56. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 10.62 and a beta of 0.77.

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

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.85%. Globe Life’s payout ratio is 9.04%.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last quarter. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Company Profile

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.