Schroder Investment Management Group Buys Shares of 91,008 Globe Life Inc. (NYSE:GL)

Schroder Investment Management Group purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 91,008 shares of the company’s stock, valued at approximately $10,006,000. Schroder Investment Management Group owned approximately 0.11% of Globe Life at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GL. Arrowstreet Capital Limited Partnership raised its position in shares of Globe Life by 2.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company’s stock valued at $143,228,000 after purchasing an additional 36,051 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Globe Life by 10.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,165 shares of the company’s stock worth $241,000 after purchasing an additional 202 shares during the last quarter. Norges Bank acquired a new stake in shares of Globe Life during the fourth quarter worth about $112,454,000. UniSuper Management Pty Ltd boosted its position in Globe Life by 22.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 16,017 shares of the company’s stock valued at $1,786,000 after buying an additional 2,970 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Globe Life in the 4th quarter worth approximately $5,971,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE GL opened at $117.30 on Friday. 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 firm has a fifty day moving average of $124.89 and a 200 day moving average of $114.70. The firm has a market cap of $9.76 billion, a PE ratio of 9.82 and a beta of 0.60. Globe Life Inc. has a one year low of $38.95 and a one year high of $133.76.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. 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. Insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Jefferies Financial Group upped their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler upped their target price on Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company 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, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.45.

Globe Life Company 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.