DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $6.67 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Globe Life Inc. (NYSE:GL) by 3,494.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 59,806 shares of the company’s stock after acquiring an additional 58,142 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Globe Life were worth $6,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Norges Bank acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $112,454,000. Raymond James Financial Inc. bought a new stake in shares of Globe Life during the 4th quarter valued at $61,238,000. Swedbank AB acquired a new position in shares of Globe Life in the 4th quarter valued at $52,414,000. Freestone Grove Partners LP bought a new position in shares of Globe Life in the 4th quarter worth $52,178,000. Finally, Marshall Wace LLP grew its stake in shares of Globe Life by 1,702.5% during the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock worth $54,053,000 after purchasing an additional 457,802 shares during the period. 81.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GL. Piper Sandler cut their target price on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley decreased their price objective on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.00.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated 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 completion of the sale, 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. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

GL stock opened at $121.97 on Friday. The stock has a market cap of $10.15 billion, a PE ratio of 10.21 and a beta of 0.56. The stock has a 50-day moving average price of $123.62 and a two-hundred day moving average price of $117.13. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76. 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 (NYSE:GL) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $2.78 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

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.