Globe Life Inc. (NYSE:GL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,807 shares of the company's stock after selling 50,211 shares during the quarter. Victory Capital Management Inc. owned 0.44% of Globe Life worth $41,352,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Globe Life during the fourth quarter worth $28,000. True Wealth Design LLC acquired a new position in Globe Life during the third quarter valued at $59,000. Private Trust Co. NA boosted its holdings in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after purchasing an additional 270 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Globe Life during the 4th quarter worth about $84,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

NYSE:GL traded down $2.37 during trading hours on Wednesday, reaching $122.20. 453,777 shares of the company were exchanged, compared to its average volume of 614,268. 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 firm has a market cap of $10.25 billion, a PE ratio of 10.23 and a beta of 0.77. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The stock's 50-day moving average is $120.36 and its 200-day moving average is $111.81.

Remove Ads

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's payout ratio is presently 9.04%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective for the company. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Finally, Evercore ISI upgraded shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

Insider Activity at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is owned by insiders.

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.