OLD National Bancorp IN Cuts Position in Globe Life Inc. (NYSE:GL)

OLD National Bancorp IN trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,257 shares of the company’s stock after selling 967 shares during the period. OLD National Bancorp IN’s holdings in Globe Life were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Globe Life during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Globe Life in the 3rd quarter worth about $32,000. True Wealth Design LLC bought a new position in Globe Life in the 3rd quarter worth about $59,000. Finally, Private Trust Co. NA grew its position in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Price Performance

NYSE GL opened at $122.17 on Friday. The company has a 50-day moving average price of $112.12 and a 200-day moving average price of $105.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. 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 firm has a market capitalization of $10.26 billion, a P/E ratio of 10.34 and a beta of 0.80.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Globe Life’s dividend payout ratio is currently 8.12%.

Insiders Place Their Bets

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,788 shares of company stock worth $4,429,779. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GL. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group lifted 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. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.18.

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.