Pensionfund DSM Netherlands Buys 7,000 Shares of Globe Life Inc. (NYSE:GL)

Pensionfund DSM Netherlands boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 30.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,200 shares of the company’s stock after purchasing an additional 7,000 shares during the period. Pensionfund DSM Netherlands’ holdings in Globe Life were worth $2,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GL. State of Alaska Department of Revenue increased its holdings in Globe Life by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 59,776 shares of the company’s stock valued at $5,675,000 after buying an additional 1,958 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Globe Life by 20.0% during the fourth quarter. IFM Investors Pty Ltd now owns 10,390 shares of the company’s stock valued at $987,000 after buying an additional 1,734 shares during the last quarter. State of Michigan Retirement System increased its holdings in Globe Life by 6.8% during the fourth quarter. State of Michigan Retirement System now owns 26,658 shares of the company’s stock valued at $2,531,000 after buying an additional 1,700 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Globe Life by 4.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 91,193 shares of the company’s stock valued at $8,660,000 after buying an additional 4,255 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Globe Life by 196.4% during the fourth quarter. SG Americas Securities LLC now owns 28,080 shares of the company’s stock valued at $2,666,000 after buying an additional 18,607 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

In related news, CAO Michael Shane Henrie sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $97.40, for a total transaction of $316,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,250 shares of the company’s stock, valued at $316,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Larry M. Hutchison sold 13,000 shares of the firm’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $100.63, for a total transaction of $1,308,190.00. Following the transaction, the chief executive officer now directly owns 728,112 shares of the company’s stock, valued at $73,269,910.56. The disclosure for this sale can be found here. Insiders have sold 120,150 shares of company stock valued at $11,921,669 over the last ninety days. 3.78% of the stock is currently owned by corporate insiders.

Shares of NYSE GL opened at $98.89 on Thursday. The firm has a fifty day moving average price of $97.61 and a 200-day moving average price of $91.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $11.47 billion, a PE ratio of 15.01 and a beta of 1.13. Globe Life Inc. has a 1 year low of $62.75 and a 1 year high of $102.25.

Globe Life (NYSE:GL) last posted its earnings results on Monday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Globe Life had a net margin of 15.38% and a return on equity of 10.28%. Globe Life’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $1.70 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Monday, April 5th will be paid a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 0.80%. This is a boost from Globe Life’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, April 1st.

GL has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Globe Life from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, January 6th. Morgan Stanley increased their price objective on shares of Globe Life from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, April 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $97.50.

Globe Life Profile

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

See Also: retirement calculator

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL).

Institutional Ownership by Quarter for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.