Great Lakes Advisors LLC Sells 16,238 Shares of Globe Life Inc. (NYSE:GL)

Great Lakes Advisors LLC lowered its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,139 shares of the company's stock after selling 16,238 shares during the period. Great Lakes Advisors LLC owned 0.27% of Globe Life worth $25,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake 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 worth $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new position in Globe Life in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC grew 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 buying an additional 90 shares in the last quarter. True Wealth Design LLC acquired a new position in Globe Life in the 3rd quarter valued at $59,000. Finally, Cullen Frost Bankers Inc. grew its holdings in Globe Life by 3,157.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company's stock valued at $69,000 after buying an additional 600 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on GL. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Morgan Stanley increased their target price on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $135.60.

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Globe Life Price Performance

Shares of GL stock opened at $124.79 on Wednesday. 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 Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The company has a market cap of $10.46 billion, a P/E ratio of 10.44 and a beta of 0.77. The business has a fifty day simple moving average of $120.36 and a 200 day simple moving average of $111.81.

Globe Life (NYSE:GL - Get Free Report) last posted 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%. On average, sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS 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. Shareholders of record on Thursday, April 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.87%. Globe Life's dividend payout ratio (DPR) is currently 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.

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