Globe Life Inc. (NYSE:GL) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. boosted its position in Globe Life Inc. (NYSE:GL) by 308.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,163 shares of the company’s stock after purchasing an additional 100,551 shares during the period. APG Asset Management N.V.’s holdings in Globe Life were worth $14,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Globe Life by 6.8% during 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 during the period. Invesco Ltd. boosted its holdings in Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock worth $438,568,000 after buying an additional 223,282 shares in the last quarter. Geode Capital Management LLC grew its position in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the period. Arrowstreet Capital Limited Partnership increased 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 buying an additional 36,051 shares in the last quarter. Finally, Nuance Investments LLC lifted its position in shares of Globe Life by 8.3% during the 4th quarter. Nuance Investments LLC now owns 1,234,069 shares of the company’s stock valued at $137,623,000 after acquiring an additional 95,091 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $118.39 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.86 billion, a P/E ratio of 9.91 and a beta of 0.60. The firm has a fifty day moving average of $124.36 and a 200-day moving average of $115.14. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $133.76.

Globe Life (NYSE:GL) last announced its quarterly earnings results 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 return on equity of 22.32% and a net margin of 18.53%. As a group, analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.91%. Globe Life’s payout ratio is 9.04%.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated 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 sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was 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 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price objective on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.55.

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.