Globe Life Inc. (NYSE:GL) Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Globe Life Inc. (NYSE:GL - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 367,926 shares of the company's stock after selling 11,012 shares during the quarter. Corient Private Wealth LLC owned approximately 0.44% of Globe Life worth $41,031,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GL. State Street Corp boosted its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock worth $160,949,000 after buying an additional 277,108 shares in the last quarter. Nuance Investments LLC raised its position 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 buying an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Globe Life by 8.4% during the third quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company's stock valued at $106,835,000 after buying an additional 78,354 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Remove Ads

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the firm's 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 sale, the director now owns 5,122 shares of the company's stock, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock 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 price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Jefferies Financial Group lifted their price target 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. Finally, BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.60.

Globe Life Stock Down 1.4 %

NYSE:GL traded down $1.74 during mid-day trading on Friday, hitting $126.86. The company had a trading volume of 1,735,122 shares, compared to its average volume of 1,401,519. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39. The business has a fifty day simple moving average of $122.24 and a 200-day simple moving average of $112.77. 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 firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 10.62 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last announced its 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 return on equity of 22.32% and a net margin of 18.53%. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal 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 given a dividend of $0.27 per share. 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 dividend yield of 0.85%. The ex-dividend date is Thursday, April 3rd. Globe Life's payout ratio is presently 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.