Aster Capital Management DIFC Ltd Takes $407,000 Position in Globe Life Inc. (NYSE:GL)

Aster Capital Management DIFC Ltd bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,650 shares of the company's stock, valued at approximately $407,000.

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

Globe Life Price Performance

NYSE GL traded up $0.86 during trading hours on Friday, reaching $119.46. 534,995 shares of the stock traded hands, compared to its average volume of 1,264,317. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a 50 day simple moving average of $124.30 and a two-hundred day simple moving average of $115.22. Globe Life Inc. has a 1 year low of $52.17 and a 1 year high of $133.76. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 10.00 and a beta of 0.60.

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Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. This is a positive change from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio (DPR) is currently 9.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and upped their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. 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. Wells Fargo & Company reduced their price objective on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five research 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 company. According to MarketBeat, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $137.55.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of the 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 completion of the sale, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.

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.