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

Corient Private Wealth LLC decreased its position in shares of Globe Life Inc. (NYSE:GL) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 367,926 shares of the company’s stock after selling 11,012 shares during the quarter. Corient Private Wealth LLC’s holdings in Globe Life were worth $41,031,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Globe Life by 13.3% in the third quarter. CIBC Asset Management Inc now owns 12,777 shares of the company’s stock valued at $1,353,000 after buying an additional 1,495 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Globe Life by 4.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,060 shares of the company’s stock worth $1,171,000 after acquiring an additional 471 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after purchasing an additional 136 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Globe Life by 139,166.7% in the third quarter. Quest Partners LLC now owns 4,178 shares of the company’s stock valued at $442,000 after purchasing an additional 4,175 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Globe Life in the third quarter valued at approximately $254,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last ninety days. Insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GL shares. Wells Fargo & Company increased their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods increased their price target 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. Jefferies Financial Group raised their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their target price on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.60.

Globe Life Stock Up 1.8 %

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

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is 9.04%.

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.