Nordea Investment Management AB Has $98.97 Million Stake in Globe Life Inc. (NYSE:GL)

Nordea Investment Management AB decreased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 890,095 shares of the company's stock after selling 70,861 shares during the period. Nordea Investment Management AB owned approximately 1.06% of Globe Life worth $98,970,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its position in shares of Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after purchasing an additional 859,146 shares during the period. Millennium Management LLC increased its position in shares of Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after purchasing an additional 817,760 shares during the period. Nuance Investments LLC increased its position in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock worth $120,629,000 after purchasing an additional 693,346 shares during the period. International Assets Investment Management LLC grew its position in Globe Life by 15,398.7% in the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company's stock valued at $356,530,000 after acquiring an additional 334,459 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock worth $160,949,000 after acquiring an additional 277,108 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GL. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Raymond James boosted their target price on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $127.10.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.51% of the company's stock.

Globe Life Trading Up 0.3 %

GL stock traded up $0.36 during trading on Tuesday, hitting $111.56. The company had a trading volume of 571,217 shares, compared to its average volume of 667,129. The business has a 50-day moving average of $108.48 and a 200-day moving average of $101.39. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The stock has a market cap of $9.36 billion, a PE ratio of 9.44 and a beta of 0.80. 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, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the business posted $2.71 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. Research analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's payout ratio is 8.12%.

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.