Sei Investments Co. Acquires 206 Shares of Globe Life Inc. (NYSE:GL)

Sei Investments Co. lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,248 shares of the company’s stock after buying an additional 206 shares during the period. Sei Investments Co.’s holdings in Globe Life were worth $2,370,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GL. Raymond James Financial Inc. bought a new stake in shares of Globe Life in the fourth quarter worth approximately $61,238,000. State Street Corp boosted its holdings in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Principal Financial Group Inc. grew its position in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after purchasing an additional 8,663 shares during the period. Merit Financial Group LLC purchased a new stake in Globe Life during the 4th quarter valued at $487,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock valued at $2,751,000 after buying an additional 9,395 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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. BMO Capital Markets began 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 for the company. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, six 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 an average rating of “Moderate Buy” and a consensus price target of $138.45.

Globe Life Trading Down 8.0 %

Shares of GL stock opened at $117.30 on Friday. The stock has a fifty day simple moving average of $124.89 and a two-hundred day simple moving average of $114.70. 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 $133.76. The firm has a market capitalization of $9.76 billion, a PE ratio of 9.82 and a beta of 0.60.

Globe Life (NYSE:GL) last released its quarterly earnings data 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%. On average, analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. This is a boost 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 0.92%. Globe Life’s payout ratio is 9.04%.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life 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 sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by company 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.