Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,704 Shares of Globe Life Inc. (NYSE:GL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Globe Life Inc. (NYSE:GL) by 8.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,849 shares of the company’s stock after selling 1,704 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Globe Life were worth $1,991,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. iA Global Asset Management Inc. lifted its position in shares of Globe Life by 312.9% in the fourth quarter. iA Global Asset Management Inc. now owns 11,892 shares of the company’s stock valued at $1,326,000 after acquiring an additional 9,012 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Globe Life by 44.8% during the 4th quarter. Teacher Retirement System of Texas now owns 58,309 shares of the company’s stock valued at $6,503,000 after purchasing an additional 18,043 shares during the period. First National Bank of Hutchinson lifted its holdings in Globe Life by 3.7% in the 4th quarter. First National Bank of Hutchinson now owns 14,909 shares of the company’s stock worth $1,663,000 after purchasing an additional 538 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Globe Life in the 4th quarter worth approximately $45,000. Finally, Avalon Trust Co purchased a new stake in Globe Life during the 4th quarter valued at approximately $41,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $129.79 on Tuesday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month 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 firm has a 50-day moving average price of $122.87 and a 200-day moving average price of $113.21. The firm has a market capitalization of $10.88 billion, a PE ratio of 10.86 and a beta of 0.77.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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%. As a group, 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 disclosed 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 represents a $1.08 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is 9.04%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GL shares. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Five investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by 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.