TD Asset Management Inc Sells 232,572 Shares of Globe Life Inc. (NYSE:GL)

TD Asset Management Inc lessened its holdings in Globe Life Inc. (NYSE:GL) by 93.6% during the second quarter, HoldingsChannel.com reports. The firm owned 15,914 shares of the company’s stock after selling 232,572 shares during the period. TD Asset Management Inc’s holdings in Globe Life were worth $1,309,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GL. Vanguard Group Inc. increased its stake in Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after buying an additional 425,993 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Globe Life by 7.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after acquiring an additional 7,100 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Globe Life by 69.2% in the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after acquiring an additional 15,862 shares during the last quarter. Bessemer Group Inc. boosted its position in Globe Life by 308.5% during the first quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock valued at $1,377,000 after purchasing an additional 8,932 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Globe Life by 10,526.9% during the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock valued at $116,061,000 after purchasing an additional 989,319 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity

In related news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GL has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler upped their target price on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Evercore ISI lifted their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upped their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $108.33.

Globe Life Stock Performance

Shares of NYSE GL opened at $103.80 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 9.91 and a beta of 0.81. The stock’s fifty day moving average price is $94.71 and its two-hundred day moving average price is $93.06. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $2.61 earnings per share. Globe Life’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life’s dividend payout ratio is presently 9.17%.

Globe Life Company 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.