Stonegate Investment Group LLC Sells 400 Shares of Globe Life Inc. (NYSE:GL)

Stonegate Investment Group LLC lowered its position in Globe Life Inc. (NYSE:GL) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,216 shares of the company’s stock after selling 400 shares during the period. Stonegate Investment Group LLC’s holdings in Globe Life were worth $4,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GL. Public Sector Pension Investment Board boosted its stake in Globe Life by 5.6% in the second quarter. Public Sector Pension Investment Board now owns 14,275 shares of the company’s stock worth $1,175,000 after buying an additional 757 shares in the last quarter. Bank of Montreal Can purchased a new stake in Globe Life in the second quarter worth approximately $6,752,000. AXA S.A. purchased a new stake in Globe Life in the second quarter worth approximately $4,047,000. Algert Global LLC purchased a new stake in Globe Life in the second quarter worth approximately $6,678,000. Finally, Creative Planning boosted its stake in Globe Life by 14.3% in the second quarter. Creative Planning now owns 22,585 shares of the company’s stock worth $1,858,000 after buying an additional 2,827 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GL. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. TD Cowen started coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.18.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,788 shares of company stock valued at $4,429,779 over the last ninety days. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $120.90 on Tuesday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business has a fifty day moving average price of $111.10 and a 200-day moving average price of $104.96. The company has a market capitalization of $10.15 billion, a PE ratio of 10.23 and a beta of 0.80.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

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.