UMB Bank n.a. Sells 122 Shares of Globe Life Inc. (NYSE:GL)

UMB Bank n.a. lowered its holdings in Globe Life Inc. (NYSE:GL) by 9.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,235 shares of the company’s stock after selling 122 shares during the period. UMB Bank n.a.’s holdings in Globe Life were worth $138,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GL. State Street Corp grew its holdings in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC boosted its position in shares of Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globe Life by 22.3% during the third 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 purchasing an additional 277,108 shares in the last quarter. Millennium Management LLC raised its holdings in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC lifted its position in Globe Life by 155.6% during the third 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. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Down 1.8 %

Globe Life stock opened at $118.34 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The business’s fifty day moving average is $110.67 and its 200 day moving average is $104.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $9.93 billion, a PE ratio of 10.01 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $2.71 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GL shares. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday. They issued a “market perform” rating and a $114.00 target price on the stock. TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $132.18.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,788 shares of company stock worth $4,429,779. Insiders own 1.51% of the company’s stock.

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.