Tweedy Browne Co LLC Has $3.71 Million Position in Globe Life Inc. (NYSE:GL)

Tweedy Browne Co LLC cut its position in shares of Globe Life Inc. (NYSE:GL) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,234 shares of the company’s stock after selling 2,268 shares during the quarter. Globe Life accounts for 0.2% of Tweedy Browne Co LLC’s portfolio, making the stock its 29th biggest holding. Tweedy Browne Co LLC’s holdings in Globe Life were worth $3,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Thrivent Financial for Lutherans grew its holdings in shares of Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after purchasing an additional 136 shares in the last quarter. Bank of Montreal Can lifted its position in Globe Life by 18.4% in the third quarter. Bank of Montreal Can now owns 95,559 shares of the company’s stock worth $9,976,000 after purchasing an additional 14,865 shares during the period. Townsquare Capital LLC boosted its stake in Globe Life by 7.6% during the third quarter. Townsquare Capital LLC now owns 3,598 shares of the company’s stock worth $381,000 after buying an additional 253 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Globe Life by 7.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,428 shares of the company’s stock valued at $681,000 after buying an additional 447 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Globe Life by 3.5% in the 3rd quarter. MetLife Investment Management LLC now owns 23,334 shares of the company’s stock valued at $2,471,000 after buying an additional 785 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

Shares of GL stock opened at $131.83 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $10.97 billion, a PE ratio of 11.03 and a beta of 0.77. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.50. The stock’s fifty day moving average is $124.25 and its 200-day moving average is $114.21.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating 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%. Equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is presently 9.04%.

Insider Activity at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction 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 sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 over the last 90 days. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of several recent research reports. BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Morgan Stanley upped their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

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.