AIA Group Ltd Makes New Investment in Globe Life Inc. (NYSE:GL)

AIA Group Ltd acquired a new stake in Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,434 shares of the company’s stock, valued at approximately $271,000.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Globe Life in the 4th quarter valued at $61,238,000. State Street Corp boosted its position in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Principal Financial Group Inc. grew its stake in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares in the last quarter. Merit Financial Group LLC bought a new position in Globe Life during the fourth quarter worth about $487,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock valued at $2,751,000 after purchasing an additional 9,395 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 0.3 %

GL opened at $132.07 on Wednesday. The company has a market cap of $10.99 billion, a P/E ratio of 11.05 and a beta of 0.77. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $124.49 and its 200-day moving average is $114.41. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $133.31.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating 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%. Equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share 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. Shareholders of record on Thursday, April 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.82%. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is currently owned by corporate insiders.

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.