Achmea Investment Management B.V. Acquires 17,878 Shares of Globe Life Inc. (NYSE:GL)

Achmea Investment Management B.V. raised its holdings in Globe Life Inc. (NYSE:GL) by 151.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,684 shares of the company’s stock after buying an additional 17,878 shares during the quarter. Achmea Investment Management B.V.’s holdings in Globe Life were worth $2,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Globe Life during the 4th quarter valued at $123,682,000. Nordea Investment Management AB increased its stake 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 valued at $116,061,000 after purchasing an additional 989,319 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after purchasing an additional 552,634 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Globe Life by 3.9% during the 1st 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 in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares in the company, valued at $1,407,571. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE GL opened at $103.83 on Friday. The company has a fifty day moving average price of $94.71 and a 200-day moving average price of $93.30. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 9.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, 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 $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) 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 21.93%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm posted $2.61 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Analysts Set New Price Targets

GL has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI upped their target price on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.

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.