Vanguard Group Inc. Cuts Stock Holdings in Globe Life Inc. (NYSE:GL)

Vanguard Group Inc. lessened its holdings in Globe Life Inc. (NYSE:GL) by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,399,696 shares of the company’s stock after selling 770,538 shares during the period. Vanguard Group Inc. owned about 0.12% of Globe Life worth $1,159,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GL. State Street Corp raised its stake 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 buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after acquiring an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Globe Life by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock worth $85,747,000 after purchasing an additional 56,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Globe Life by 0.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock valued at $69,922,000 after purchasing an additional 4,230 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

NYSE GL opened at $131.50 on Friday. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 11.00 and a beta of 0.77. 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 stock’s fifty day moving average price is $123.76 and its 200 day moving average price is $113.65. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.92.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date 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 (DPR) is currently 9.04%.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life 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 approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,338 shares of company stock worth $7,239,630. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley boosted 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 note on Friday, February 28th. BMO Capital Markets assumed coverage on shares of 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. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Five research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

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.