Globe Life Inc. (NYSE:GL) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its position in Globe Life Inc. (NYSE:GL) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,250 shares of the company’s stock after selling 15,265 shares during the period. Segall Bryant & Hamill LLC owned 0.33% of Globe Life worth $30,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Geode Capital Management LLC boosted its stake in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after buying an additional 277,108 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Globe Life by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock worth $85,747,000 after acquiring an additional 56,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Globe Life by 0.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock worth $69,922,000 after acquiring an additional 4,230 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GL shares. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. 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 report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley increased their price objective 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. Finally, BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Trading Up 2.3 %

Shares of NYSE GL opened at $129.79 on Tuesday. The stock has a fifty day simple moving average of $122.87 and a 200-day simple moving average of $113.21. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.88 billion, a PE ratio of 10.86 and a beta of 0.77.

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 net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current 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 given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s 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 directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock worth $7,239,630 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

About Globe Life

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.