US Bancorp DE Has $4 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

US Bancorp DE cut its stake in Globe Life Inc. (NYSE:GL) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,869 shares of the company’s stock after selling 866 shares during the period. US Bancorp DE’s holdings in Globe Life were worth $4,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc raised its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Globe Life during the 4th quarter worth $28,000. True Wealth Design LLC acquired a new position in shares of Globe Life during the 3rd quarter worth $59,000. Private Trust Co. NA raised its holdings in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after buying an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of Globe Life during the 3rd quarter worth $73,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Up 1.7 %

Shares of NYSE:GL opened at $126.32 on Thursday. The business’s 50 day simple moving average is $119.25 and its two-hundred day simple moving average is $110.99. The firm has a market cap of $10.59 billion, a P/E ratio of 10.57 and a beta of 0.77. 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 Inc. has a 52-week low of $38.95 and a 52-week high of $131.39.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, research analysts forecast that Globe Life Inc. will post 13.87 EPS 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 issued a $0.27 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Analysts Set New Price Targets

GL has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price target on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 over the last three months. Company 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.