APG Asset Management N.V. Boosts Stake in Globe Life Inc. (NYSE:GL)

APG Asset Management N.V. lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 308.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 133,163 shares of the company’s stock after purchasing an additional 100,551 shares during the quarter. APG Asset Management N.V. owned about 0.16% of Globe Life worth $14,341,000 as of its most recent filing with the Securities and Exchange Commission.

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

Globe Life Price Performance

Globe Life stock opened at $118.39 on Friday. The stock has a market cap of $9.86 billion, a P/E ratio of 9.91 and a beta of 0.60. The company has a fifty day simple moving average of $124.36 and a 200-day simple moving average of $115.14. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $133.76.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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 analysts expect that Globe Life Inc. will post 13.87 EPS 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 given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is currently 9.04%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GL. 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 research note on Wednesday, February 12th. Piper Sandler lifted their target price on Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Globe Life from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their target price on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.55.

Insider Activity

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

Globe Life 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.