Aster Capital Management DIFC Ltd Invests $407,000 in Globe Life Inc. (NYSE:GL)

Aster Capital Management DIFC Ltd bought a new stake in Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,650 shares of the company’s stock, valued at approximately $407,000.

A number of other hedge funds have also modified their holdings 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. Rakuten Securities Inc. purchased a new stake in Globe Life in the 4th quarter worth $28,000. Albion Financial Group UT acquired a new position in shares of Globe Life during the 4th quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Globe Life during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its stake in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Trading Down 8.0 %

Shares of Globe Life stock opened at $117.30 on Monday. The company has a market capitalization of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $133.76. The company’s fifty day moving average is $124.89 and its two-hundred day moving average is $114.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 net margin of 18.53% and a return on equity of 22.32%. Analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. 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. Globe Life’s dividend payout ratio is currently 9.04%.

Insiders Place Their Bets

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on 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 transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $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 company insiders.

Analysts Set New Price Targets

GL has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.45.

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.