Victory Capital Management Inc. Has $50.97 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. grew its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 386,934 shares of the company's stock after buying an additional 16,127 shares during the quarter. Victory Capital Management Inc. owned 0.46% of Globe Life worth $50,967,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of Globe Life by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 22,009 shares of the company's stock worth $2,454,000 after purchasing an additional 406 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Globe Life by 44.8% during the 4th quarter. Teacher Retirement System of Texas now owns 58,309 shares of the company's stock worth $6,503,000 after purchasing an additional 18,043 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Globe Life by 312.9% during the 4th quarter. iA Global Asset Management Inc. now owns 11,892 shares of the company's stock worth $1,326,000 after purchasing an additional 9,012 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Globe Life during the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GL shares. Wells Fargo & Company raised their target price on shares of Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley set a $127.00 target price on shares of Globe Life and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Truist Financial started coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. Piper Sandler decreased their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $143.82.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the transaction, the chief executive officer directly owned 31,298 shares of the company's stock, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.51% of the company's stock.

Globe Life Price Performance

NYSE GL traded up $0.60 on Friday, reaching $122.20. The company's stock had a trading volume of 591,766 shares, compared to its average volume of 701,085. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a twelve month low of $86.10 and a twelve month high of $133.76. The stock has a market cap of $10.09 billion, a PE ratio of 9.94 and a beta of 0.56. The firm's 50 day moving average is $120.87 and its two-hundred day moving average is $121.58.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.78 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.88%. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

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.