Globe Life Inc. (NYSE:GL) Stake Cut by Oakworth Capital Inc.

Oakworth Capital Inc. cut its position in shares of Globe Life Inc. (NYSE:GL) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,512 shares of the company’s stock after selling 186 shares during the quarter. Oakworth Capital Inc.’s holdings in Globe Life were worth $3,514,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nuance Investments LLC lifted its stake in Globe Life by 155.6% in 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 last quarter. Swedbank AB bought a new stake in Globe Life in the fourth quarter valued at $52,414,000. International Assets Investment Management LLC lifted its stake in Globe Life by 15,398.7% in the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock valued at $356,530,000 after buying an additional 334,459 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Globe Life by 22.3% in 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 buying an additional 277,108 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Globe Life by 78.5% in the third quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock valued at $30,768,000 after buying an additional 127,764 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Up 0.4 %

Shares of NYSE GL opened at $122.93 on Thursday. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. The business has a 50 day simple moving average of $112.78 and a 200 day simple moving average of $106.53. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. On average, research analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given 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 0.78%. Globe Life’s payout ratio is currently 8.12%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GL. Keefe, Bruyette & Woods raised their target price on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. 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 target price on the stock. Finally, Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five equities 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.18.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the company’s 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 over the last three months. 1.51% of the stock is currently owned by insiders.

About Globe Life

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.