Envestnet Portfolio Solutions Inc. Sells 3,143 Shares of Globe Life Inc. (NYSE:GL)

Envestnet Portfolio Solutions Inc. reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,687 shares of the company's stock after selling 3,143 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Globe Life were worth $2,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT acquired a new stake in shares of Globe Life in the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new position in Globe Life during the fourth quarter worth $28,000. Avalon Trust Co acquired a new position in Globe Life during the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Globe Life by 32.7% in the 4th 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. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was 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 of the company's stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last three months. 1.51% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

GL has been the topic of several research reports. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price objective 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. Wells Fargo & Company lifted their price objective on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price for the company. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Globe Life presently has an average rating of "Moderate Buy" and an average target price of $135.60.

Globe Life Price Performance

Globe Life stock traded up $2.96 during mid-day trading on Monday, hitting $129.79. 814,067 shares of the company were exchanged, compared to its average volume of 1,400,220. The company has a market capitalization of $10.88 billion, a PE ratio of 10.86 and a beta of 0.77. The business has a fifty day moving average of $122.87 and a 200 day moving average of $113.21. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results 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, sell-side analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis 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 9.04%.

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.