KLP Kapitalforvaltning AS Takes $2.57 Million Position in Globe Life Inc. (NYSE:GL)

KLP Kapitalforvaltning AS bought a new position in shares of Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,000 shares of the company’s stock, valued at approximately $2,565,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA lifted its stake in shares of Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after purchasing an additional 84 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Globe Life by 4.0% in the fourth 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 during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares in the last quarter. New Mexico Educational Retirement Board grew its position in shares of Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after buying an additional 100 shares during the period. Finally, Erste Asset Management GmbH increased its stake in shares of Globe Life by 3.7% in the 4th quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock valued at $307,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Up 0.5 %

Shares of NYSE:GL opened at $130.60 on Thursday. The business’s 50 day moving average is $123.47 and its 200 day moving average is $113.52. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 10.93 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a positive change 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 annualized dividend and a yield of 0.83%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Wall Street Analyst Weigh In

GL has been the topic of several research analyst reports. Jefferies Financial Group increased their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their price target on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Insiders Place Their Bets

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock valued at $7,239,630 in the last 90 days. 1.51% of the stock is currently owned by corporate insiders.

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.