Blueshift Asset Management LLC Trims Position in Globe Life Inc. (NYSE:GL)

Blueshift Asset Management LLC cut its position in shares of Globe Life Inc. (NYSE:GL) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,356 shares of the company’s stock after selling 154 shares during the quarter. Blueshift Asset Management LLC’s holdings in Globe Life were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GL. Versant Capital Management Inc boosted its holdings in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Globe Life in the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in Globe Life during the fourth quarter valued at $28,000. Avalon Trust Co purchased a new stake in Globe Life during the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC increased 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 during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was 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 90 days. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GL. Wells Fargo & Company upped their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upped 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. Morgan Stanley upped their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Five 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. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Stock Performance

NYSE GL opened at $128.65 on Friday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 10.77 and a beta of 0.77. 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 50-day moving average price of $122.24 and a 200-day moving average price of $112.77. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $131.39.

Globe Life (NYSE:GL) last released 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 return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts predict 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 $0.27 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.84%. Globe Life’s dividend payout ratio 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.