Nordea Investment Management AB Has $104.10 Million Stake in Globe Life Inc. $GL

Nordea Investment Management AB trimmed its position in shares of Globe Life Inc. (NYSE:GL) by 1.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 841,501 shares of the company’s stock after selling 11,368 shares during the period. Nordea Investment Management AB owned approximately 1.02% of Globe Life worth $104,102,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Globe Life by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company’s stock worth $229,323,000 after buying an additional 148,397 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Globe Life by 35.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company’s stock worth $135,143,000 after acquiring an additional 271,253 shares during the last quarter. Nuveen LLC bought a new position in shares of Globe Life in the first quarter worth about $131,608,000. Pzena Investment Management LLC lifted its holdings in shares of Globe Life by 0.5% in the second quarter. Pzena Investment Management LLC now owns 945,983 shares of the company’s stock worth $117,576,000 after acquiring an additional 5,103 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of Globe Life by 77.0% in the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock worth $109,591,000 after acquiring an additional 362,000 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GL has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Globe Life in a report on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of Globe Life from $150.00 to $172.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley set a $179.00 price objective on shares of Globe Life and gave the company an “overweight” rating in a report on Tuesday, October 7th. Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $152.11.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the sale, the executive vice president owned 47,066 shares of the company’s stock, valued at $6,467,339.06. This trade represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 33,270 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares of the company’s stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,722 shares of company stock worth $11,733,793. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $134.78 on Friday. The company has a market capitalization of $10.92 billion, a PE ratio of 10.77 and a beta of 0.55. The company has a 50 day simple moving average of $139.85 and a two-hundred day simple moving average of $128.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. Globe Life Inc. has a fifty-two week low of $100.27 and a fifty-two week high of $147.83.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

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.