Connor Clark & Lunn Investment Management Ltd. Sells 59,060 Shares of Globe Life Inc. (NYSE:GL)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Globe Life Inc. (NYSE:GL - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 161,284 shares of the company's stock after selling 59,060 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Globe Life worth $17,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company's stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new position in Globe Life during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new position in Globe Life during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the period. Finally, True Wealth Design LLC bought a new position in Globe Life during the third quarter valued at approximately $59,000. Institutional investors own 81.61% of the company's stock.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares of the company's stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,338 shares of company stock valued at $7,239,630. Corporate insiders own 1.51% of the company's stock.

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Globe Life Price Performance

Shares of NYSE GL traded up $3.61 during midday trading on Friday, reaching $125.56. The stock had a trading volume of 746,407 shares, compared to its average volume of 622,331. The stock has a 50-day moving average of $121.05 and a 200-day moving average of $112.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39.

Globe Life (NYSE:GL - Get Free Report) 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 net margin of 18.53% and a return on equity of 22.32%. As a group, research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.86%. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and upped their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group upped 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. Five 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

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.