470,000 Shares in Globe Life Inc. (NYSE:GL) Bought by Swedbank AB

Swedbank AB bought a new position in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 470,000 shares of the company’s stock, valued at approximately $52,414,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT bought a new position in Globe Life during the fourth quarter worth about $28,000. Riverview Trust Co bought a new position in Globe Life during the third quarter worth about $32,000. True Wealth Design LLC bought a new position in Globe Life during the third quarter worth about $59,000. Finally, Private Trust Co. NA lifted its holdings in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GL has been the topic of several recent analyst reports. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. 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 report on Tuesday, December 10th. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.18.

Globe Life Stock Performance

GL opened at $122.09 on Thursday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The firm has a market capitalization of $10.25 billion, a PE ratio of 10.33 and a beta of 0.80. 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 business’s 50-day simple moving average is $111.62 and its 200 day simple moving average is $105.33.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.79%. Globe Life’s payout ratio is presently 8.12%.

Insider Buying and Selling

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,788 shares of company stock worth $4,429,779. Corporate insiders own 1.51% of the company’s stock.

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.