Swiss National Bank Sells 3,600 Shares of Globe Life Inc. (NYSE:GL)

Swiss National Bank trimmed its stake in Globe Life Inc. (NYSE:GL - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,600 shares of the company's stock after selling 3,600 shares during the period. Swiss National Bank owned 0.21% of Globe Life worth $19,694,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Globe Life in the 4th quarter worth approximately $61,238,000. State Street Corp increased its position in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. increased its position in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after buying an additional 8,663 shares during the period. Merit Financial Group LLC bought a new position in Globe Life in the 4th quarter worth approximately $487,000. Finally, Steward Partners Investment Advisory LLC increased its position in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after buying an additional 9,395 shares during the period. 81.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GL. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Wells Fargo & Company lifted their price objective on 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 lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price objective on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.60.

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Insider Buying and Selling at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction 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 in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business's stock in a transaction 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 owns 18,948 shares of the company's stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by insiders.

Globe Life Price Performance

GL stock traded down $1.74 during trading on Friday, hitting $126.86. The company had a trading volume of 1,735,122 shares, compared to its average volume of 1,401,827. The company has a fifty day moving average price of $122.53 and a two-hundred day moving average price of $112.93. 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 company has a market cap of $10.64 billion, a P/E ratio of 10.62 and a beta of 0.77. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $131.39.

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

Globe Life Increases Dividend

The firm also recently disclosed 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. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.85%. Globe Life's payout ratio is presently 9.04%.

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.