Nordea Investment Management AB Lowers Holdings in Globe Life Inc. (NYSE:GL)

Nordea Investment Management AB reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 890,095 shares of the company’s stock after selling 70,861 shares during the quarter. Nordea Investment Management AB owned 1.06% of Globe Life worth $98,970,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after acquiring an additional 97 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after buying an additional 136 shares during the period. Fiduciary Trust Co lifted its position in shares of Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after buying an additional 144 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Globe Life by 4.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock valued at $382,000 after acquiring an additional 166 shares during the period. Finally, TrueWealth Advisors LLC increased its holdings in Globe Life by 1.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock worth $1,392,000 after acquiring an additional 170 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

NYSE GL opened at $111.00 on Tuesday. 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 stock’s fifty day moving average is $108.48 and its two-hundred day moving average is $101.39. The firm has a market capitalization of $9.32 billion, a P/E ratio of 9.39 and a beta of 0.80. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Globe Life’s dividend payout ratio is currently 8.12%.

Analysts Set New Price Targets

Several equities analysts have issued reports on GL shares. Raymond James increased their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.