Aigen Investment Management LP Has $659,000 Position in Globe Life Inc. (NYSE:GL)

Aigen Investment Management LP reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 16.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,906 shares of the company’s stock after selling 1,174 shares during the quarter. Aigen Investment Management LP’s holdings in Globe Life were worth $659,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp grew its position in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the period. Geode Capital Management LLC grew its position in shares of Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the period. Nuance Investments LLC grew its position in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares during the period. Finally, Pzena Investment Management LLC grew its position in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock worth $106,835,000 after buying an additional 78,354 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GL shares. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Wells Fargo & Company boosted their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Jefferies Financial Group boosted their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Globe Life Trading Down 1.3 %

Shares of Globe Life stock opened at $124.56 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. The stock has a market cap of $10.44 billion, a P/E ratio of 10.42 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $119.25 and its 200-day moving average is $110.99.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is currently 9.04%.

About Globe Life

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.