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

Vanguard Group Inc. trimmed its holdings in Globe Life Inc. (NYSE:GL) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,399,696 shares of the company’s stock after selling 770,538 shares during the period. Vanguard Group Inc. owned about 12.39% of Globe Life worth $1,159,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $28,000. Avalon Trust Co purchased a new position in shares of Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 90 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last quarter. 1.51% of the stock is owned by insiders.

Analysts Set New Price Targets

GL has been the topic of several research analyst reports. Wells Fargo & Company boosted 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 increased their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Trading Up 0.7 %

Shares of GL opened at $131.50 on Friday. The company’s fifty day simple moving average is $123.76 and its 200-day simple moving average is $113.65. The company has a market cap of $10.95 billion, a P/E ratio of 11.00 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 twelve month low of $38.95 and a twelve month high of $131.92.

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

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. 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 dividend yield of 0.82%. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

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.