Globe Life Inc. (NYSE:GL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,923 shares of the company's stock after selling 28,000 shares during the quarter. Victory Capital Management Inc. owned about 0.37% of Globe Life worth $42,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company's stock worth $27,000 after buying an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Globe Life during the fourth quarter valued at $28,000. Lindbrook Capital LLC raised its position in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 92 shares during the last quarter. Headlands Technologies LLC bought a new position in Globe Life in the 4th quarter worth about $60,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Globe Life during the 4th quarter valued at about $63,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Shares of NYSE:GL traded up $3.29 during trading on Monday, hitting $80.84. The company's stock had a trading volume of 2,315,129 shares, compared to its average volume of 2,196,489. The company has a 50-day moving average of $101.82 and a 200-day moving average of $114.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 7.73 and a beta of 0.78. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. On average, sell-side analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.19%. Globe Life's payout ratio is 9.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Globe Life from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Evercore ISI cut their target price on Globe Life from $125.00 to $75.00 and set an "in-line" rating on the stock in a research note on Friday, April 12th. Truist Financial dropped their price objective on Globe Life from $125.00 to $80.00 and set a "hold" rating on the stock in a research report on Wednesday, April 24th. Piper Sandler decreased their target price on Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company dropped their price target on shares of Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $114.33.

Insider Transactions at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company's stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Rodriguez bought 1,500 shares of the company's stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average price of $79.72 per share, with a total value of $119,580.00. Following the transaction, the director now owns 4,192 shares of the company's stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Corporate insiders own 1.51% of the company's stock.

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.