KLP Kapitalforvaltning AS Purchases Shares of 23,000 Globe Life Inc. (NYSE:GL)

KLP Kapitalforvaltning AS purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,000 shares of the company's stock, valued at approximately $2,565,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in Globe Life during the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new stake in Globe Life during the fourth quarter worth $28,000. Avalon Trust Co purchased a new position in Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Globe Life news, 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now directly owns 13,485 shares of the company's stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock worth $7,239,630 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. Keefe, Bruyette & Woods upped 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. Finally, Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

Globe Life Price Performance

Shares of GL traded down $1.77 during midday trading on Friday, hitting $129.65. 422,841 shares of the company traded hands, compared to its average volume of 1,432,484. Globe Life Inc. has a one year low of $38.95 and a one year high of $131.98. The firm has a market cap of $10.79 billion, a P/E ratio of 10.85 and a beta of 0.77. 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 moving average of $123.98 and a 200-day moving average of $114.00.

Globe Life (NYSE:GL - Get Free Report) last posted 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 net margin of 18.53% and a return on equity of 22.32%. As a group, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal 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 paid a dividend of $0.27 per share. This is a positive change from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.83%. Globe Life's dividend payout ratio (DPR) 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.