Natixis Acquires 2,004 Shares of Globe Life Inc. (NYSE:GL)

Natixis lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 50.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,009 shares of the company’s stock after purchasing an additional 2,004 shares during the period. Natixis’ holdings in Globe Life were worth $670,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new position in shares of Globe Life in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Globe Life in the fourth quarter worth $28,000. Avalon Trust Co purchased a new position in shares of Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $122.83 on Thursday. The business’s 50-day simple moving average is $124.13 and its two-hundred day simple moving average is $116.00. Globe Life Inc. has a 52 week low of $71.50 and a 52 week high of $133.76. The stock has a market cap of $10.22 billion, a PE ratio of 10.28 and a beta of 0.60. 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 earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, analysts forecast 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. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.88%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction dated 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 owns 18,948 shares in the company, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $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. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Piper Sandler lifted their price target on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley decreased their price target on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $137.55.

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.