Vestcor Inc Sells 8,338 Shares of Globe Life Inc. (NYSE:GL)

Vestcor Inc lowered its stake in shares of Globe Life Inc. (NYSE:GL) by 65.6% during the fourth quarter, according to its most recent disclosure 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 institutional investors and hedge funds have also bought and sold shares of the stock. Rakuten Securities Inc. acquired a new stake in Globe Life during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Globe Life by 17.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,048 shares of the company’s stock worth $340,000 after buying an additional 446 shares in the last quarter. HighTower Advisors LLC boosted its stake in Globe Life by 1.9% during the fourth quarter. HighTower Advisors LLC now owns 22,009 shares of the company’s stock worth $2,454,000 after buying an additional 406 shares in the last quarter. Finally, Natural Investments LLC acquired a new stake in Globe Life during the fourth quarter worth $356,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Globe Life stock opened at $125.56 on Monday. The stock has a 50-day simple moving average of $121.05 and a 200 day simple moving average of $112.25. 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 Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) 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%. On average, research 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 disclosed 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 a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s payout ratio is currently 9.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GL shares. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. 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 on the stock. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Insiders Place Their Bets

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is currently owned by 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.