Globe Life Inc. (NYSE:GL) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 26.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.19% of Globe Life worth $17,986,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc boosted 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 worth $27,000 after acquiring an additional 194 shares during the last quarter. Albion Financial Group UT purchased a new stake in Globe Life during the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new stake in shares of Globe Life in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Globe Life in the 3rd quarter valued at about $59,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 3.0 %

GL traded up $3.61 during trading on Friday, reaching $125.56. 746,407 shares of the stock were exchanged, compared to its average volume of 622,331. The stock has a market cap of $10.53 billion, a P/E ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The stock's 50 day moving average price is $121.05 and its two-hundred day moving average price is $112.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

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

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio is currently 9.04%.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were 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. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GL shares. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley upped 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 note on Friday, February 28th. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

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.