APG Asset Management N.V. Acquires 100,551 Shares of Globe Life Inc. (NYSE:GL)

APG Asset Management N.V. raised its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 308.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,163 shares of the company's stock after buying an additional 100,551 shares during the period. APG Asset Management N.V. owned about 0.16% of Globe Life worth $14,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GL. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 326,307 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Globe Life by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock valued at $438,568,000 after buying an additional 223,282 shares during the period. Geode Capital Management LLC grew its stake in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after purchasing an additional 89,299 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Globe Life by 2.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company's stock valued at $143,228,000 after acquiring an additional 36,051 shares in the last quarter. Finally, Nuance Investments LLC raised its stake in 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 buying an additional 95,091 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

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Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction 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 $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GL shares. JPMorgan Chase & Co. increased their target price on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price target on Globe Life from $141.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. 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. BMO Capital Markets began coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Finally, Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Five equities research 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.55.

Globe Life Stock Performance

NYSE GL traded down $0.10 on Wednesday, hitting $122.69. 109,028 shares of the company's stock were exchanged, compared to its average volume of 1,135,126. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a fifty-two week low of $54.66 and a fifty-two week high of $133.76. The firm's 50-day moving average price is $124.32 and its two-hundred day moving average price is $115.43. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 10.27 and a beta of 0.60.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect 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. Investors 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 0.88%. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's payout ratio is currently 9.04%.

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.