Boston Partners Purchases 125,457 Shares of Globe Life Inc. (NYSE:GL)

Boston Partners lifted its position in shares of Globe Life Inc. (NYSE:GL) by 6.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,092,526 shares of the company’s stock after buying an additional 125,457 shares during the quarter. Boston Partners’ holdings in Globe Life were worth $243,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Globe Life in the fourth quarter worth approximately $123,682,000. Nordea Investment Management AB boosted its holdings in Globe Life by 10,526.9% in the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after purchasing an additional 989,319 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Globe Life by 1,367.8% during the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after acquiring an additional 337,836 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after acquiring an additional 304,942 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden acquired 2,000 shares of the stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, with a total value of $169,640.00. Following the transaction, the chief executive officer now directly owns 37,973 shares in the company, valued at $3,220,869.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Globe Life news, CEO James Matthew Darden purchased 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Edward Hensley purchased 2,500 shares of the stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the transaction, the executive vice president now directly owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,000 shares of company stock worth $687,880. Insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research note on Wednesday. Jefferies Financial Group lifted their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Evercore ISI lifted their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.33.

Globe Life Price Performance

Shares of Globe Life stock traded down $2.04 during trading hours on Friday, reaching $90.91. The company’s stock had a trading volume of 937,317 shares, compared to its average volume of 915,633. The firm has a 50 day moving average price of $84.51 and a 200-day moving average price of $98.46. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market cap of $8.19 billion, a P/E ratio of 8.68 and a beta of 0.80.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $2.61 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Globe Life Inc. will post 11.92 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, July 5th. This represents a $0.96 annualized dividend and a yield of 1.06%. Globe Life’s payout ratio is 9.17%.

About Globe Life

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.