Erste Asset Management GmbH Has $307,000 Stake in Globe Life Inc. (NYSE:GL)

Erste Asset Management GmbH increased its position in Globe Life Inc. (NYSE:GL) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the company’s stock after purchasing an additional 100 shares during the period. Erste Asset Management GmbH’s holdings in Globe Life were worth $307,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC lifted its stake in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after acquiring an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares during the last quarter. Nuance Investments LLC increased its position in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after purchasing an additional 78,354 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on GL. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Insiders Place Their Bets

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last ninety days. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $125.56 on Friday. The business has a 50 day moving average of $121.05 and a 200 day moving average of $112.19. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. 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 (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS 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, sell-side analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, April 3rd. Globe Life’s payout ratio is 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.