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

Vestcor Inc cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 65.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,368 shares of the company's stock after selling 8,338 shares during the quarter. Vestcor Inc's holdings in Globe Life were worth $487,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GL. Versant Capital Management Inc increased its position 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 buying an additional 194 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Globe Life in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Globe Life in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Globe Life in the third quarter valued at approximately $59,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target 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 Globe Life from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target 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 stock. According to data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

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Globe Life Trading Up 1.0 %

GL traded up $1.25 during mid-day trading on Thursday, hitting $128.65. 606,050 shares of the stock were exchanged, compared to its average volume of 1,397,979. The firm's fifty day moving average is $121.96 and its two-hundred day moving average is $112.66. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. 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 $10.79 billion, a PE ratio of 10.77 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last posted its 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 return on equity of 22.32% and a net margin of 18.53%. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business 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 dividend of $0.27 per share. 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 0.84%. Globe Life's dividend payout ratio is 9.04%.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. This represents 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 quarter. 1.51% of the stock is owned by company insiders.

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.