Victory Capital Management Inc. Sells 50,211 Shares of Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. reduced its stake in Globe Life Inc. (NYSE:GL) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 370,807 shares of the company’s stock after selling 50,211 shares during the period. Victory Capital Management Inc. owned approximately 0.44% of Globe Life worth $41,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted 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 valued at $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT acquired a new position in Globe Life during the fourth quarter valued at approximately $28,000. True Wealth Design LLC acquired a new position in Globe Life during the third quarter valued at approximately $59,000. Private Trust Co. NA raised its position in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Globe Life during the fourth quarter valued at approximately $84,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Up 0.9 %

Shares of NYSE:GL opened at $125.55 on Friday. The company has a fifty day moving average of $119.84 and a 200-day moving average of $111.38. The company has a market capitalization of $10.53 billion, a PE ratio of 10.51 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 data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.86%. Globe Life’s payout ratio is currently 9.04%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 3,000 shares of the business’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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock valued at $7,239,630 over the last 90 days. 1.51% of the stock is owned by insiders.

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.