Intech Investment Management LLC Trims Holdings in Globe Life Inc. (NYSE:GL)

Intech Investment Management LLC trimmed its position in Globe Life Inc. (NYSE:GL) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,772 shares of the company’s stock after selling 5,513 shares during the quarter. Intech Investment Management LLC’s holdings in Globe Life were worth $2,874,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GL. Versant Capital Management Inc raised its position in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT purchased a new position in Globe Life during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the fourth quarter valued at approximately $28,000. Avalon Trust Co purchased a new position in Globe Life during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its position in Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $135.60.

Insider Transactions at Globe Life

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 in the last quarter. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE:GL opened at $127.54 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50 day moving average price is $121.96 and its 200-day moving average price is $112.66. The firm has a market capitalization of $10.69 billion, a PE ratio of 10.67 and a beta of 0.77. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase 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 0.85%. Globe Life’s dividend payout ratio (DPR) is 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.