Commonwealth Equity Services LLC Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

Commonwealth Equity Services LLC reduced its stake in Globe Life Inc. (NYSE:GL) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,065 shares of the company’s stock after selling 616 shares during the quarter. Commonwealth Equity Services LLC owned about 0.05% of Globe Life worth $5,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC raised its stake in Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% in the third 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 purchasing an additional 277,108 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Globe Life by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock valued at $85,747,000 after purchasing an additional 56,673 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Globe Life by 0.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock valued at $69,922,000 after purchasing an additional 4,230 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 1.4 %

Shares of Globe Life stock opened at $126.86 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.39. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 10.62 and a beta of 0.77. The company’s 50 day moving average price is $122.53 and its 200-day moving average price is $112.98.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Globe Life Inc. will post 13.87 EPS 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 paid a $0.27 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GL. Wells Fargo & Company raised their target price on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group increased their price target 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 increased their price target on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Insider Buying and Selling

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, 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 sold 61,338 shares of company stock valued at $7,239,630 over the last quarter. 1.51% of the stock is owned by company insiders.

Globe Life Company 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.