Cibc World Markets Corp Sells 2,749 Shares of Globe Life Inc. (NYSE:GL)

Cibc World Markets Corp lessened its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 22.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,424 shares of the company's stock after selling 2,749 shares during the period. Cibc World Markets Corp's holdings in Globe Life were worth $1,051,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Geode Capital Management LLC lifted its stake in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Globe Life by 22.3% in 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 purchasing an additional 277,108 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Globe Life by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company's stock valued at $85,747,000 after purchasing an additional 56,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Globe Life by 0.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company's stock valued at $69,922,000 after buying an additional 4,230 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley upped their target price on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Jefferies Financial Group increased their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and upped their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and a consensus target price of $135.60.

Globe Life Trading Up 0.5 %

GL traded up $0.70 during midday trading on Wednesday, reaching $130.60. 629,103 shares of the company's stock traded hands, compared to its average volume of 1,395,611. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a fifty day moving average of $123.18 and a two-hundred day moving average of $113.40. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 10.93 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's payout ratio is currently 9.04%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now owns 13,485 shares of the company's stock, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock worth $7,239,630 over the last 90 days. 1.51% of the stock is owned by company insiders.

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.