Globe Life Inc. (NYSE:GL) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in Globe Life Inc. (NYSE:GL) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,486 shares of the company’s stock after selling 480 shares during the quarter. Securian Asset Management Inc.’s holdings in Globe Life were worth $500,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its position in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares during the period. Albion Financial Group UT purchased a new position in shares of Globe Life in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. True Wealth Design LLC purchased a new stake in shares of Globe Life during the third quarter worth approximately $59,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Globe Life by 3,157.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company’s stock worth $69,000 after purchasing an additional 600 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets began coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Wells Fargo & Company boosted their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. 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. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Stock Performance

NYSE GL opened at $127.69 on Tuesday. The business has a 50 day moving average price of $121.38 and a 200 day moving average price of $112.40. The company has a market capitalization of $10.71 billion, a P/E ratio of 10.69 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. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is 9.04%.

Insider Activity

In related news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock worth $7,239,630 over the last ninety days. 1.51% of the stock is currently owned by insiders.

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.