Segall Bryant & Hamill LLC Decreases Position in Globe Life Inc. (NYSE:GL)

Segall Bryant & Hamill LLC reduced its stake in Globe Life Inc. (NYSE:GL) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 275,250 shares of the company’s stock after selling 15,265 shares during the period. Segall Bryant & Hamill LLC’s holdings in Globe Life were worth $30,696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Trust Co. NA raised its stake in Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after acquiring an additional 84 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Globe Life by 4.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 last quarter. New Mexico Educational Retirement Board grew its stake in Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares during the last quarter. Finally, Erste Asset Management GmbH grew its position in shares of Globe Life by 3.7% in the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock valued at $307,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE:GL opened at $129.79 on Tuesday. The business has a 50-day moving average of $122.87 and a two-hundred day moving average of $113.21. The firm has a market capitalization of $10.88 billion, a PE ratio of 10.86 and a beta of 0.77. 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 Inc. has a 12 month low of $38.95 and a 12 month high of $131.39.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, research 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. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.83%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is 9.04%.

Insider Activity at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

GL has been the subject of a number of analyst reports. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised 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 boosted 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. Morgan Stanley raised their target price on shares of 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 initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Five investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.