AIA Group Ltd Has $2.23 Million Holdings in Globe Life Inc. (NYSE:GL)

AIA Group Ltd grew its stake in Globe Life Inc. (NYSE:GL) by 595.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,934 shares of the company’s stock after buying an additional 14,500 shares during the quarter. AIA Group Ltd’s holdings in Globe Life were worth $2,231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Globe Life in the first quarter valued at approximately $43,000. Allworth Financial LP boosted its holdings in shares of Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company’s stock valued at $71,000 after buying an additional 103 shares during the period. Versant Capital Management Inc boosted its holdings in Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock worth $77,000 after purchasing an additional 342 shares during the last quarter. Blue Trust Inc. boosted its holdings in Globe Life by 42.4% during the first quarter. Blue Trust Inc. now owns 772 shares of the company’s stock worth $102,000 after purchasing an additional 230 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in Globe Life during the fourth quarter worth $116,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer owned 30,665 shares in the company, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the sale, the chief executive officer owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,741 shares of company stock worth $12,471,180. 1.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GL. Wells Fargo & Company increased their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Truist Financial began coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a “buy” rating and a $150.00 target price for the company. Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Piper Sandler reduced their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

Globe Life Stock Performance

Shares of GL stock opened at $139.01 on Tuesday. The stock has a market cap of $11.26 billion, a P/E ratio of 11.11 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The company has a fifty day moving average price of $125.62 and a two-hundred day moving average price of $123.88. Globe Life Inc. has a one year low of $91.26 and a one year high of $144.00.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. Globe Life’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 EPS. As a group, equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is currently 8.63%.

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.