Globe Life Inc. (NYSE:GL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,772 shares of the company's stock after selling 5,513 shares during the period. Intech Investment Management LLC's holdings in Globe Life were worth $2,874,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GL. Private Trust Co. NA raised its holdings in shares of Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after buying an additional 84 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the period. New Mexico Educational Retirement Board boosted its position in Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after buying an additional 100 shares during the period. Finally, Erste Asset Management GmbH increased its position in shares of Globe Life by 3.7% during the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company's stock worth $307,000 after acquiring an additional 100 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

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Globe Life Price Performance

GL traded up $2.96 during midday trading on Monday, reaching $129.79. 814,067 shares of the company's stock were exchanged, compared to its average volume of 1,400,220. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The stock has a market capitalization of $10.88 billion, a PE ratio of 10.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business's 50-day moving average price is $122.53 and its 200 day moving average price is $113.03.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Globe Life Inc. will post 13.87 EPS 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 issued 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 0.83%. Globe Life's payout ratio is 9.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 price target on the stock. Jefferies Financial Group raised 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 upped 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. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five equities 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.60.

Insiders Place Their Bets

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock valued at $7,239,630 in the last quarter. 1.51% of the stock is currently owned by company insiders.

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.