Equity Investment Corp Decreases Position in Globe Life Inc. (NYSE:GL)

Equity Investment Corp cut its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 986,044 shares of the company's stock after selling 45,541 shares during the quarter. Globe Life makes up approximately 2.6% of Equity Investment Corp's holdings, making the stock its 14th largest holding. Equity Investment Corp owned about 1.17% of Globe Life worth $109,964,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nuance Investments LLC boosted its holdings 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 valued at $120,629,000 after acquiring an additional 693,346 shares in the last quarter. Swedbank AB bought a new position in Globe Life in the 4th quarter worth $52,414,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% during 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 valued at $160,949,000 after purchasing an additional 277,108 shares during the last quarter. Segall Bryant & Hamill LLC raised 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 valued at $30,768,000 after purchasing an additional 127,764 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Globe Life by 38.9% during the third quarter. Victory Capital Management Inc. now owns 421,018 shares of the company's stock valued at $44,590,000 after purchasing an additional 117,839 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

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Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The transaction 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 on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction 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. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock worth $8,799,822 over the last three months. Company insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GL. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a research report on Friday. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective for the company. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Five 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

Globe Life Price Performance

GL traded up $3.51 on Friday, reaching $127.69. The stock had a trading volume of 1,006,472 shares, compared to its average volume of 595,635. 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 company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 10.68 and a beta of 0.81. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $129.05. The firm has a 50-day moving average of $118.29 and a 200-day moving average of $110.35.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating 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 anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. Globe Life's payout ratio is currently 9.04%.

Globe Life 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.