KLP Kapitalforvaltning AS Purchases Shares of 23,000 Globe Life Inc. (NYSE:GL)

KLP Kapitalforvaltning AS acquired a new position in shares of Globe Life Inc. (NYSE:GL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,000 shares of the company’s stock, valued at approximately $2,565,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in Globe Life in the 4th quarter valued at $820,000. Sei Investments Co. lifted its holdings in shares of Globe Life by 1.0% during the fourth quarter. Sei Investments Co. now owns 21,248 shares of the company’s stock worth $2,370,000 after buying an additional 206 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Globe Life by 33.2% in the fourth quarter. American Century Companies Inc. now owns 144,815 shares of the company’s stock valued at $16,150,000 after acquiring an additional 36,113 shares during the period. Quantbot Technologies LP grew its stake in shares of Globe Life by 115.4% in the fourth quarter. Quantbot Technologies LP now owns 19,809 shares of the company’s stock valued at $2,209,000 after acquiring an additional 10,611 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Globe Life during the fourth quarter worth about $70,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by insiders.

Globe Life Trading Up 0.5 %

GL opened at $130.60 on Thursday. The company has a market cap of $10.87 billion, a P/E ratio of 10.93 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 $123.47 and its 200-day moving average is $113.52. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is presently 9.04%.

Analyst Ratings Changes

A number of research firms have issued reports on GL. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. 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. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.60.

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.