Groupama Asset Managment Invests $1.80 Million in Globe Life Inc. (NYSE:GL)

Groupama Asset Managment purchased a new stake in shares of Globe Life Inc. (NYSE:GL) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 16,374 shares of the company’s stock, valued at approximately $1,800,000.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT acquired a new stake in Globe Life during the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in Globe Life in the fourth quarter valued at $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the fourth quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

NYSE GL opened at $133.30 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s fifty day moving average is $124.75 and its two-hundred day moving average is $114.54. The firm has a market capitalization of $11.10 billion, a P/E ratio of 11.15 and a beta of 0.77. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $135.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is presently 9.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler upped 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. Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.45.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company’s stock, valued at $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 available through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. Insiders own 1.51% of the company’s stock.

Globe Life Company 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.