iA Global Asset Management Inc. Has $1.33 Million Holdings in Globe Life Inc. (NYSE:GL)

iA Global Asset Management Inc. boosted its holdings in Globe Life Inc. (NYSE:GL) by 312.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,892 shares of the company’s stock after acquiring an additional 9,012 shares during the period. iA Global Asset Management Inc.’s holdings in Globe Life were worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC raised its stake in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after acquiring an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after acquiring an additional 277,108 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Globe Life by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock valued at $85,747,000 after acquiring an additional 56,673 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Globe Life by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock valued at $69,922,000 after acquiring an additional 4,230 shares during the period. Institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % 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 James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Morgan Stanley increased their price objective on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Wells Fargo & Company increased their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Stock Performance

GL opened at $126.86 on Friday. The firm has a market cap of $10.64 billion, a P/E ratio of 10.62 and a beta of 0.77. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.39. 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 business’s fifty day moving average is $122.53 and its 200-day moving average is $112.93.

Globe Life (NYSE:GL) last released 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 return on equity of 22.32% and a net margin of 18.53%. Sell-side analysts expect that Globe Life Inc. will post 13.87 EPS 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. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. 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. This represents a $1.08 annualized dividend and a yield of 0.85%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

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.