Leavell Investment Management Inc. Decreases Stake in Globe Life Inc. (NYSE:GL)

Leavell Investment Management Inc. trimmed its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,253 shares of the company's stock after selling 2,890 shares during the quarter. Leavell Investment Management Inc. owned 0.08% of Globe Life worth $8,595,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GL. Jones Financial Companies Lllp grew its stake in shares of Globe Life by 685.1% during the 4th quarter. Jones Financial Companies Lllp now owns 1,209 shares of the company's stock worth $135,000 after acquiring an additional 1,055 shares in the last quarter. Amundi boosted its holdings in shares of Globe Life by 57.6% in the 4th quarter. Amundi now owns 186,112 shares of the company's stock valued at $21,239,000 after buying an additional 68,004 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Globe Life by 41.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 69,696 shares of the company's stock valued at $7,773,000 after buying an additional 20,530 shares during the last quarter. Natural Investments LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $356,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Globe Life by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock valued at $2,454,000 after buying an additional 406 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer directly owned 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on GL shares. Piper Sandler decreased their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley upped their price objective on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a report on Thursday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $139.55.

Globe Life Price Performance

Shares of GL traded down $0.50 during trading hours on Friday, reaching $118.63. 170,638 shares of the company's stock traded hands, compared to its average volume of 708,539. The stock has a market cap of $9.79 billion, a PE ratio of 9.66 and a beta of 0.56. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $121.02 and its 200-day simple moving average is $121.11. Globe Life Inc. has a 12 month low of $83.38 and a 12 month high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. Globe Life's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.78 EPS. Equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.91%. Globe Life's dividend payout ratio is currently 8.79%.

Globe Life Company 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.