AIA Group Ltd Takes $271,000 Position in Globe Life Inc. (NYSE:GL)

AIA Group Ltd bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,434 shares of the company's stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Globe Life by 6.8% in the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock worth $570,661,000 after acquiring an additional 326,307 shares during the period. State Street Corp grew its holdings in Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after buying an additional 115,432 shares during the last quarter. Geode Capital Management LLC increased its position in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after buying an additional 89,299 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Globe Life by 2.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock worth $143,228,000 after acquiring an additional 36,051 shares during the last quarter. Finally, Nuance Investments LLC lifted its position in shares of Globe Life by 8.3% in the fourth quarter. Nuance Investments LLC now owns 1,234,069 shares of the company's stock valued at $137,623,000 after acquiring an additional 95,091 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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Globe Life Stock Down 8.0 %

NYSE:GL traded down $10.21 during mid-day trading on Friday, hitting $117.30. The company had a trading volume of 1,263,316 shares, compared to its average volume of 1,416,028. The business has a fifty day simple moving average of $124.93 and a 200-day simple moving average of $114.63. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 9.82 and a beta of 0.60. Globe Life Inc. has a 1 year low of $38.95 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 - Get Free Report) last announced its earnings results 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%. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. Globe Life's dividend payout ratio is 9.04%.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, 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 report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price of $138.45.

Insider Activity

In other news, 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 directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company's stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 over the last ninety days. Corporate insiders own 1.51% of the company's stock.

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.