Amundi Buys 68,004 Shares of Globe Life Inc. (NYSE:GL)

Amundi boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 57.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,112 shares of the company’s stock after buying an additional 68,004 shares during the period. Amundi’s holdings in Globe Life were worth $21,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after buying an additional 84 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Globe Life by 4.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after buying an additional 88 shares in the last quarter. New Mexico Educational Retirement Board increased its position in Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after buying an additional 100 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Globe Life by 4.5% in the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock worth $313,000 after purchasing an additional 121 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Globe Life by 18.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 784 shares of the company’s stock worth $87,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Activity

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This trade represents a 36.73 % 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 valued at $7,239,630. 1.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price 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 target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Trading Down 0.4 %

Shares of NYSE GL opened at $121.92 on Friday. The business’s 50 day moving average is $120.57 and its two-hundred day moving average is $111.88. 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 Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The stock has a market capitalization of $10.22 billion, a P/E ratio of 10.20 and a beta of 0.77.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating 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%. As a group, research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life’s dividend payout ratio is currently 9.04%.

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.