Victory Capital Management Inc. Sells 50,211 Shares of Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,807 shares of the company’s stock after selling 50,211 shares during the quarter. Victory Capital Management Inc.’s holdings in Globe Life were worth $41,352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GL. Nuance Investments LLC boosted its position 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 worth $120,629,000 after purchasing an additional 693,346 shares in the last quarter. Swedbank AB bought a new position in shares of Globe Life during the 4th quarter worth about $52,414,000. Proficio Capital Partners LLC boosted its position 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 worth $49,635,000 after purchasing an additional 441,121 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Globe Life by 22.3% in 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 worth $160,949,000 after acquiring an additional 277,108 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Globe Life by 78.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock worth $30,768,000 after acquiring an additional 127,764 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GL shares. Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price 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. BMO Capital Markets started coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley upped their target price 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. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $135.60.

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock worth $7,239,630 in the last quarter. Insiders own 1.51% of the company’s stock.

Globe Life Trading Up 0.9 %

NYSE:GL opened at $125.55 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 10.51 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. The firm has a 50-day moving average price of $119.84 and a two-hundred day moving average price of $111.38.

Globe Life (NYSE:GL) last issued its quarterly earnings results 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%. On average, equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.86%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

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.