Xponance Inc. Has $814,000 Position in Globe Life Inc. (NYSE:GL)

Xponance Inc. trimmed its position in shares of Globe Life Inc. (NYSE:GL) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,301 shares of the company’s stock after selling 836 shares during the quarter. Xponance Inc.’s holdings in Globe Life were worth $814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in 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 during the last quarter. Albion Financial Group UT acquired a new stake in shares of Globe Life in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in shares of Globe Life during the fourth quarter worth about $28,000. Avalon Trust Co bought a new position in shares of Globe Life during the fourth quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC lifted its stake 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 worth $41,000 after acquiring an additional 90 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

Shares of GL opened at $129.79 on Tuesday. The stock has a market cap of $10.88 billion, a P/E ratio of 10.86 and a beta of 0.77. The business’s fifty day moving average is $122.87 and its 200 day moving average is $113.21. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. Globe Life’s dividend payout ratio is 9.04%.

Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % 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 90 days. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GL has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group increased their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.