Charles Schwab Investment Management Inc. Sells 31,526 Shares of Globe Life Inc. (NYSE:GL)

Charles Schwab Investment Management Inc. lessened its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 778,097 shares of the company's stock after selling 31,526 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of Globe Life worth $86,773,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GL. Nuance Investments LLC boosted its stake in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock worth $120,629,000 after acquiring an additional 693,346 shares during the period. Swedbank AB bought a new position in shares of Globe Life in the fourth quarter worth about $52,414,000. Proficio Capital Partners LLC boosted its stake in shares of Globe Life by 11,153.5% in the fourth quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock worth $49,635,000 after acquiring an additional 441,121 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Globe Life by 22.3% in the third 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 acquiring an additional 277,108 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Globe Life by 78.5% in the third quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company's stock worth $30,768,000 after acquiring an additional 127,764 shares during the period. Institutional investors own 81.61% of the company's stock.

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Insider Transactions at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred 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 owns 5,122 shares of the company's stock, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. Jefferies Financial Group boosted their target price on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley boosted their target price on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

Globe Life Trading Down 0.4 %

Shares of NYSE GL traded down $0.43 during midday trading on Thursday, hitting $121.92. The company's stock had a trading volume of 548,804 shares, compared to its average volume of 619,717. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business's 50 day moving average is $120.57 and its two-hundred day moving average is $111.88. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. The firm has a market cap of $10.22 billion, a P/E ratio of 10.20 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's dividend payout ratio is presently 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.