Securian Asset Management Inc. Raises Stock Position in Globe Life Inc. (NYSE:GL)

Posted by Defense World Staff on Apr 25th, 2023

Securian Asset Management Inc. grew its stake in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,508 shares of the company’s stock after acquiring an additional 196 shares during the period. Securian Asset Management Inc.’s holdings in Globe Life were worth $905,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GL. Ronald Blue Trust Inc. boosted its stake in shares of Globe Life by 72.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 409 shares of the company’s stock valued at $41,000 after purchasing an additional 172 shares in the last quarter. Ellevest Inc. lifted its holdings in Globe Life by 36.2% during the third quarter. Ellevest Inc. now owns 448 shares of the company’s stock worth $45,000 after buying an additional 119 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in Globe Life during the 4th quarter valued at $53,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Globe Life in the 3rd quarter valued at $84,000. Finally, Tobam purchased a new stake in shares of Globe Life during the 4th quarter worth $102,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Insider Transactions at Globe Life

In related news, CAO Michael Shane Henrie sold 2,225 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $110.29, for a total value of $245,395.25. Following the transaction, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at approximately $77,203. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Globe Life news, Director Melissa Jane Buchan sold 1,900 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $105.95, for a total value of $201,305.00. Following the completion of the sale, the director now owns 81,658 shares in the company, valued at approximately $8,651,665.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Shane Henrie sold 2,225 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $110.29, for a total value of $245,395.25. Following the transaction, the chief accounting officer now owns 700 shares in the company, valued at $77,203. The disclosure for this sale can be found here. Insiders sold 96,125 shares of company stock valued at $11,603,160 over the last 90 days. Corporate insiders own 4.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Morgan Stanley reduced their target price on Globe Life from $133.00 to $129.00 and set an “underweight” rating for the company in a research note on Wednesday, April 12th. Raymond James reduced their price objective on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Tuesday, March 14th. Finally, Truist Financial increased their price target on shares of Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $128.57.

Globe Life Trading Down 0.3 %

Shares of Globe Life stock opened at $107.31 on Tuesday. Globe Life Inc. has a fifty-two week low of $87.87 and a fifty-two week high of $123.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $10.36 billion, a P/E ratio of 14.37 and a beta of 0.79. The firm has a 50-day simple moving average of $112.83 and a two-hundred day simple moving average of $115.44.

Globe Life (NYSE:GL – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 15.03% and a net margin of 14.18%. Globe Life’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. As a group, equities analysts predict that Globe Life Inc. will post 10.34 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 3rd will be given a $0.225 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 31st. This represents a $0.90 annualized dividend and a dividend yield of 0.84%. Globe Life’s dividend payout ratio (DPR) is 12.05%.

Globe Life Company Profile

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.