US Bancorp DE Sells 866 Shares of Globe Life Inc. (NYSE:GL)

US Bancorp DE trimmed its position in shares of Globe Life Inc. (NYSE:GL) by 2.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,869 shares of the company’s stock after selling 866 shares during the quarter. US Bancorp DE’s holdings in Globe Life were worth $4,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of GL. Nuance Investments LLC lifted its holdings in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the period. Swedbank AB bought a new position in shares of Globe Life during the 4th quarter valued at $52,414,000. Proficio Capital Partners LLC lifted its holdings in shares of Globe Life by 11,153.5% during the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company’s stock valued at $49,635,000 after buying an additional 441,121 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globe Life by 22.3% during the 3rd 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 buying an additional 277,108 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Globe Life by 78.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock valued at $30,768,000 after buying an additional 127,764 shares during the period. 81.61% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated 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 trade represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock worth $7,239,630 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $126.32 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $119.25 and its two-hundred day simple moving average is $110.99. The stock has a market cap of $10.59 billion, a PE ratio of 10.57 and a beta of 0.77. Globe Life Inc. has a 52 week low of $38.95 and a 52 week 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 analysts’ consensus estimates 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. 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 dividend yield of 0.85%. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GL. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. 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 report on Friday, February 28th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

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.