Swiss National Bank Has $19.69 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Swiss National Bank trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 176,600 shares of the company’s stock after selling 3,600 shares during the quarter. Swiss National Bank’s holdings in Globe Life were worth $19,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GL. CIBC Asset Management Inc grew its holdings in Globe Life by 13.3% during the 3rd quarter. CIBC Asset Management Inc now owns 12,777 shares of the company’s stock worth $1,353,000 after acquiring an additional 1,495 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Globe Life by 4.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,060 shares of the company’s stock worth $1,171,000 after acquiring an additional 471 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after acquiring an additional 136 shares during the last quarter. Quest Partners LLC grew its holdings in Globe Life by 139,166.7% during the 3rd quarter. Quest Partners LLC now owns 4,178 shares of the company’s stock worth $442,000 after acquiring an additional 4,175 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Globe Life during the 3rd quarter worth approximately $254,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Down 0.5 %

Shares of NYSE GL opened at $126.94 on Wednesday. The firm has a market cap of $10.64 billion, a PE ratio of 10.62 and a beta of 0.77. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. The company’s fifty day simple moving average is $121.69 and its 200 day simple moving average is $112.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Globe Life Inc. will post 13.87 earnings per share 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. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is an increase 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 0.85%. Globe Life’s dividend payout ratio is presently 9.04%.

Insiders Place Their Bets

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. 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. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $135.60.

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.