Globe Life Inc. (NYSE:GL) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its position in Globe Life Inc. (NYSE:GL) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 367,926 shares of the company’s stock after selling 11,012 shares during the period. Corient Private Wealth LLC owned about 0.44% of Globe Life worth $41,031,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Globe Life in the fourth quarter valued at about $61,238,000. State Street Corp raised its holdings in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after purchasing an additional 8,663 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Globe Life during the 4th quarter worth approximately $487,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Globe Life by 61.5% in 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 in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Up 1.8 %

Shares of NYSE GL opened at $127.69 on Tuesday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.39. The business’s 50 day moving average is $121.38 and its two-hundred day moving average is $112.40. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 10.69 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a positive change 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 dividend yield of 0.85%. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Analyst Ratings Changes

GL has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. 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 report 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 stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.