Nuveen Asset Management LLC Trims Stock Position in Globe Life Inc. (NYSE:GL)

Nuveen Asset Management LLC lowered its stake in Globe Life Inc. (NYSE:GL - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 934,236 shares of the company's stock after selling 62,999 shares during the period. Nuveen Asset Management LLC owned 1.11% of Globe Life worth $104,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GL. Principal Financial Group Inc. boosted its holdings in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after buying an additional 8,663 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in shares of Globe Life during the 4th quarter valued at $217,000. Merit Financial Group LLC purchased a new position in shares of Globe Life in the fourth quarter valued at about $487,000. HB Wealth Management LLC lifted its stake in Globe Life by 49.4% in the 4th quarter. HB Wealth Management LLC now owns 3,093 shares of the company's stock worth $345,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Polianta Ltd bought a new position in shares of Globe Life in the 4th quarter valued at about $1,249,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GL shares. Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $137.73.

Globe Life Stock Down 0.0%

GL traded down $0.04 during trading on Tuesday, hitting $122.17. The stock had a trading volume of 463,970 shares, compared to its average volume of 848,029. The company has a market capitalization of $10.08 billion, a PE ratio of 10.22 and a beta of 0.56. Globe Life Inc. has a twelve month low of $76.55 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. The stock has a 50 day simple moving average of $123.19 and a two-hundred day simple moving average of $117.86.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $2.78 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is 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.