Globe Life Inc. (NYSE:GL) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in Globe Life Inc. (NYSE:GL - Free Report) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,399,696 shares of the company's stock after selling 770,538 shares during the period. Vanguard Group Inc. owned 12.39% of Globe Life worth $1,159,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Globe Life in the 4th quarter worth $61,238,000. State Street Corp grew its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Principal Financial Group Inc. grew its position in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after acquiring an additional 8,663 shares in the last quarter. Merit Financial Group LLC bought a new stake in Globe Life during the fourth quarter worth approximately $487,000. Finally, Steward Partners Investment Advisory LLC raised its position in Globe Life by 61.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,395 shares during the period. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Jefferies Financial Group boosted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price target on shares of 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 increased their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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Insiders Place Their Bets

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 value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company's stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm's 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 sale, the chief executive officer now directly owns 18,948 shares in the company, 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. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 in the last three months. Corporate insiders own 1.51% of the company's stock.

Globe Life Trading Up 0.3 %

GL stock traded up $0.35 during mid-day trading on Tuesday, reaching $132.07. The company had a trading volume of 645,830 shares, compared to its average volume of 1,428,552. The company has a market capitalization of $10.99 billion, a PE ratio of 11.05 and a beta of 0.77. The firm has a 50 day moving average of $124.49 and a 200 day moving average of $114.41. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $133.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

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 (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%. On average, equities analysts predict 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. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend 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 0.82%. Globe Life's dividend payout ratio is 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.