Principal Financial Group Inc. Sells 7,596 Shares of Globe Life Inc. (NYSE:GL)

Principal Financial Group Inc. cut its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,719 shares of the company's stock after selling 7,596 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Globe Life worth $10,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GL. New Mexico Educational Retirement Board lifted its holdings in Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock worth $472,000 after acquiring an additional 100 shares during the period. Ballentine Partners LLC grew its holdings in shares of Globe Life by 4.5% in the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the company's stock worth $313,000 after purchasing an additional 121 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock valued at $373,000 after acquiring an additional 136 shares during the last quarter. Fiduciary Trust Co boosted its holdings in Globe Life by 2.3% in the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock valued at $670,000 after acquiring an additional 144 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Globe Life by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company's stock worth $2,110,000 after acquiring an additional 144 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

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Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by corporate insiders.

Globe Life Price Performance

GL stock traded down $3.75 during trading on Tuesday, hitting $124.84. The company had a trading volume of 503,298 shares, compared to its average volume of 599,646. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 10.44 and a beta of 0.81. The business has a 50 day moving average of $118.66 and a 200 day moving average of $110.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. As a group, research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. Globe Life's dividend payout ratio is currently 9.04%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets began coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $135.60.

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.