Mutual of America Capital Management LLC Sells 1,002 Shares of Globe Life Inc. (NYSE:GL)

Mutual of America Capital Management LLC trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,058 shares of the company’s stock after selling 1,002 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Globe Life were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GL. Asset Management One Co. Ltd. boosted its position in shares of Globe Life by 33.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,767 shares of the company’s stock valued at $187,000 after purchasing an additional 442 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Globe Life during the 3rd quarter worth approximately $450,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Globe Life by 2.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 37,983 shares of the company’s stock worth $4,023,000 after buying an additional 971 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Globe Life during the 3rd quarter worth approximately $360,000. Finally, Aigen Investment Management LP bought a new stake in shares of Globe Life in the 3rd quarter valued at $750,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GL shares. Morgan Stanley raised their price target on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.60.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was 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 owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly 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 sold 61,338 shares of company stock worth $7,239,630 over the last quarter. Corporate insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of NYSE:GL opened at $125.55 on Monday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.53 billion, a PE ratio of 10.51 and a beta of 0.77. The stock’s fifty day simple moving average is $119.84 and its two-hundred day simple moving average is $111.47.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a $0.27 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

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.