National Bank of Canada FI Grows Stock Holdings in Globe Life Inc. (NYSE:GL)

National Bank of Canada FI raised its position in shares of Globe Life Inc. (NYSE:GL) by 4.2% during the first quarter, HoldingsChannel reports. The firm owned 54,273 shares of the company’s stock after purchasing an additional 2,182 shares during the period. National Bank of Canada FI’s holdings in Globe Life were worth $7,149,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in Globe Life by 22.0% during the first quarter. Allworth Financial LP now owns 571 shares of the company’s stock valued at $71,000 after purchasing an additional 103 shares in the last quarter. Versant Capital Management Inc raised its position in Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock valued at $77,000 after purchasing an additional 342 shares in the last quarter. Blue Trust Inc. raised its position in Globe Life by 42.4% during the first quarter. Blue Trust Inc. now owns 772 shares of the company’s stock valued at $102,000 after purchasing an additional 230 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Globe Life by 56.7% during the first quarter. Cullen Frost Bankers Inc. now owns 970 shares of the company’s stock valued at $128,000 after purchasing an additional 351 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new stake in Globe Life during the fourth quarter valued at about $116,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 0.6%

NYSE GL opened at $138.92 on Thursday. 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 stock has a market capitalization of $11.25 billion, a PE ratio of 11.10 and a beta of 0.56. Globe Life Inc. has a 1 year low of $93.09 and a 1 year high of $144.00. The business’s 50-day moving average is $126.33 and its 200 day moving average is $124.09.

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 the consensus estimate of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. Globe Life’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. Sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s payout ratio is presently 8.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GL shares. Keefe, Bruyette & Woods raised their price target on Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Wells Fargo & Company lifted their price objective on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Wall Street Zen upgraded Globe Life from a “hold” rating to a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Cfra Research upgraded Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

Insider Transactions at Globe Life

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