Intact Investment Management Inc. Has $67,000 Holdings in Globe Life Inc. (NYSE:GL)

Intact Investment Management Inc. lessened its position in shares of Globe Life Inc. (NYSE:GL) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600 shares of the company’s stock after selling 90 shares during the quarter. Intact Investment Management Inc.’s holdings in Globe Life were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Globe Life by 388.0% during 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. Rakuten Securities Inc. bought a new position in shares of Globe Life during the 4th quarter worth approximately $28,000. Albion Financial Group UT bought a new position in shares of Globe Life during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of Globe Life during the 3rd quarter worth approximately $59,000. 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 11,000 shares of Globe Life stock in a transaction on 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock valued at $7,239,630 over the last three months. Company insiders own 1.51% of the company’s stock.

Globe Life Trading Up 3.0 %

GL stock opened at $125.56 on Friday. The company has a market cap of $10.53 billion, a P/E ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $121.05 and a 200-day moving average of $112.19.

Globe Life (NYSE:GL) last released its earnings results 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 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 EPS for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is presently 9.04%.

Wall Street Analyst Weigh In

Several research firms recently commented on GL. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Five 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.60.

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.