Victory Capital Management Inc. Cuts Stake in Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. lowered its position in shares of Globe Life Inc. (NYSE:GL) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,923 shares of the company’s stock after selling 28,000 shares during the quarter. Victory Capital Management Inc. owned 0.37% of Globe Life worth $42,836,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. California Public Employees Retirement System increased its holdings in shares of Globe Life by 169.4% in the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after purchasing an additional 304,942 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Globe Life by 141.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after purchasing an additional 273,515 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Globe Life by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after purchasing an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after purchasing an additional 168,127 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Globe Life by 200.8% in the 3rd quarter. Stifel Financial Corp now owns 232,329 shares of the company’s stock valued at $25,261,000 after purchasing an additional 155,090 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, Director David A. Rodriguez bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Rodriguez purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $77.55 on Monday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $7.29 billion, a P/E ratio of 7.41 and a beta of 0.78. The firm’s 50-day moving average is $101.82 and its two-hundred day moving average is $114.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $2.53 earnings per share. Globe Life’s revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.24%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of research reports. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company lowered their price objective on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Piper Sandler lowered their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $114.33.

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.