Pzena Investment Management LLC Has $107.08 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Pzena Investment Management LLC decreased its stake in shares of Globe Life Inc. (NYSE:GL) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 960,216 shares of the company’s stock after selling 48,516 shares during the period. Pzena Investment Management LLC owned 1.14% of Globe Life worth $107,083,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc lifted 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 valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new stake in Globe Life during the 4th quarter worth approximately $28,000. True Wealth Design LLC bought a new stake in Globe Life during the 3rd quarter worth approximately $59,000. Cullen Frost Bankers Inc. increased its stake in Globe Life by 3,157.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company’s stock worth $69,000 after purchasing an additional 600 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Trading Down 2.4 %

NYSE GL opened at $122.51 on Tuesday. The company has a market cap of $10.27 billion, a PE ratio of 10.25 and a beta of 0.77. The company has a current ratio of 0.05, a quick 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 50 day moving average of $120.09 and a 200-day moving average of $111.64.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 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%. On average, equities research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal 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 issued a dividend of $0.27 per share. This is an increase 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 yield of 0.88%. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GL shares. Morgan Stanley raised their price target 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. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI raised 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 research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Insider Buying and Selling at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the 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 transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 in the last quarter. 1.51% of the stock is currently owned by insiders.

Globe Life 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.