Swedbank AB Purchases New Holdings in Globe Life Inc. (NYSE:GL)

Swedbank AB bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 470,000 shares of the company's stock, valued at approximately $52,414,000. Swedbank AB owned approximately 0.56% of Globe Life at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after buying an additional 8,663 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Globe Life in the 4th quarter worth approximately $487,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock valued at $2,095,000 after acquiring an additional 9,141 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Globe Life by 2.9% in the third quarter. Stifel Financial Corp now owns 245,930 shares of the company's stock valued at $26,046,000 after acquiring an additional 6,935 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 0.6 %

Globe Life stock traded up $0.76 during trading hours on Thursday, hitting $122.71. The company had a trading volume of 80,035 shares, compared to its average volume of 517,065. The firm's fifty day moving average is $111.62 and its 200-day moving average is $105.33. The firm has a market capitalization of $10.30 billion, a P/E ratio of 10.38 and a beta of 0.80. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.78%. Globe Life's dividend payout ratio is currently 8.12%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GL. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective for the company. Raymond James lifted their target price on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Evercore ISI raised shares of 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 report on Wednesday, January 8th. Finally, Truist Financial lifted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.18.

Insider Activity at Globe Life

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,788 shares of company stock valued at $4,429,779. 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.