Globe Life Inc. (NYSE:GL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,257 shares of the company's stock after selling 18,302 shares during the period. Bank of Montreal Can owned approximately 0.09% of Globe Life worth $8,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. Versant Capital Management Inc increased its position in shares of Globe Life by 388.0% during the 4th 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 last quarter. Rakuten Securities Inc. bought a new position in Globe Life in the fourth quarter worth approximately $28,000. Albion Financial Group UT purchased a new position in shares of Globe Life during the 4th quarter worth $28,000. Avalon Trust Co purchased a new position in Globe Life during the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares during the period. Institutional investors own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

GL has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler boosted their target price on Globe Life from $140.00 to $152.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $137.55.

Insider Activity at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.

Globe Life Stock Down 0.1 %

Shares of GL stock traded down $0.13 during mid-day trading on Thursday, hitting $121.09. The stock had a trading volume of 443,538 shares, compared to its average volume of 660,215. The firm has a market capitalization of $10.08 billion, a P/E ratio of 10.13 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12-month low of $63.27 and a 12-month high of $133.76. The firm's 50-day moving average is $124.27 and its two-hundred day moving average is $115.47.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results 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%. On average, analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. Globe Life's dividend payout ratio (DPR) is 9.04%.

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.