National Bank of Canada FI Grows Stake in Globe Life Inc. (NYSE:GL)

National Bank of Canada FI boosted its position in shares of Globe Life Inc. (NYSE:GL) by 78.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,091 shares of the company’s stock after acquiring an additional 22,872 shares during the quarter. National Bank of Canada FI owned 0.06% of Globe Life worth $5,809,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HighPoint Advisor Group LLC increased its position in shares of Globe Life by 4.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock valued at $276,000 after purchasing an additional 87 shares during the last quarter. Franklin Resources Inc. grew its position in Globe Life by 35.7% during the fourth quarter. Franklin Resources Inc. now owns 152,157 shares of the company’s stock valued at $16,969,000 after buying an additional 40,037 shares during the period. Summit Financial LLC raised its position in Globe Life by 26.0% in the fourth quarter. Summit Financial LLC now owns 3,154 shares of the company’s stock worth $352,000 after acquiring an additional 650 shares during the period. AIA Group Ltd purchased a new position in shares of Globe Life during the 4th quarter worth $271,000. Finally, Wellington Management Group LLP grew its position in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock valued at $570,661,000 after acquiring an additional 326,307 shares during the period. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Piper Sandler raised their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.45.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life Trading Down 8.0 %

Shares of Globe Life stock opened at $117.30 on Monday. 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 market cap of $9.76 billion, a price-to-earnings ratio of 9.82 and a beta of 0.60. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $133.76. The business has a 50-day moving average price of $124.89 and a 200-day moving average price of $114.82.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. Equities research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This is an increase 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 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio is presently 9.04%.

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.