Cullen Frost Bankers Inc. Acquires 600 Shares of Globe Life Inc. (NYSE:GL)

Cullen Frost Bankers Inc. grew its holdings in Globe Life Inc. (NYSE:GL) by 3,157.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 619 shares of the company’s stock after acquiring an additional 600 shares during the period. Cullen Frost Bankers Inc.’s holdings in Globe Life were worth $69,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Globe Life in the fourth quarter worth $28,000. True Wealth Design LLC acquired a new stake in shares of Globe Life in the third quarter worth $59,000. Private Trust Co. NA lifted its stake in shares of Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after buying an additional 270 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in shares of Globe Life in the fourth quarter worth $84,000. 81.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GL. Morgan Stanley boosted their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group increased their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Price Performance

Shares of Globe Life stock opened at $125.55 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. The firm has a fifty day moving average price of $119.84 and a two-hundred day moving average price of $111.47. The company has a market cap of $10.53 billion, a PE ratio of 10.51 and a beta of 0.77.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % 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 11,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, 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. In the last three months, insiders sold 61,338 shares of company stock valued at $7,239,630. 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.