Globe Life Inc. (NYSE:GL) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,835 shares of the company’s stock after acquiring an additional 1,295 shares during the quarter. Cerity Partners LLC’s holdings in Globe Life were worth $3,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Private Trust Co. NA raised its stake in shares of Globe Life by 12.5% during the fourth quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of Globe Life by 4.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock worth $276,000 after buying an additional 87 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after acquiring an additional 88 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in shares of Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.7 %

NYSE GL opened at $119.46 on Monday. The firm’s 50 day moving average price is $124.30 and its two-hundred day moving average price is $115.26. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 10.00 and a beta of 0.60. Globe Life Inc. has a twelve month low of $54.66 and a twelve month high of $133.76. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. Equities analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current 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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change 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 is 9.04%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GL. Wells Fargo & Company decreased their price target on Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Evercore ISI upgraded shares of 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.55.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life 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 completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate 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.