Globe Life Inc. (NYSE:GL) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 130,361 shares of the company's stock after selling 17,747 shares during the period. Legal & General Group Plc owned approximately 0.16% of Globe Life worth $14,538,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GL. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% in the fourth 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 period. Albion Financial Group UT acquired a new position in Globe Life in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the 4th quarter worth approximately $28,000. Avalon Trust Co acquired a new stake in Globe Life during the 4th quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Transactions at Globe Life

In related news, 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 directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

Globe Life Stock Down 0.1 %

NYSE GL traded down $0.13 on Friday, hitting $121.09. 563,073 shares of the stock were exchanged, compared to its average volume of 1,083,446. The company has a market cap of $10.08 billion, a PE ratio of 10.13 and a beta of 0.60. The company has a 50-day moving average price of $124.24 and a 200-day moving average price of $115.69. 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 fifty-two week low of $64.50 and a fifty-two week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data 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 return on equity of 22.32% and a net margin of 18.53%. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

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

Analyst Upgrades and Downgrades

GL has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price for the company. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Piper Sandler lifted their price target on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley reduced their target price on Globe Life from $126.00 to $117.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.55.

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.