Price T Rowe Associates Inc. MD Sells 5,819 Shares of Globe Life Inc. (NYSE:GL)

Price T Rowe Associates Inc. MD reduced its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 117,265 shares of the company's stock after selling 5,819 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.14% of Globe Life worth $13,078,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GL. Versant Capital Management Inc boosted its stake in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT bought a new position in Globe Life in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in shares of Globe Life during the 4th quarter worth approximately $28,000. Avalon Trust Co bought a new stake in shares of Globe Life during the 4th quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 0.6 %

NYSE:GL traded up $0.74 during trading hours on Thursday, hitting $121.70. 85,036 shares of the company traded hands, compared to its average volume of 897,136. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.13 billion, a PE ratio of 10.18 and a beta of 0.56. The firm's 50-day simple moving average is $123.80 and its 200-day simple moving average is $116.98. Globe Life Inc. has a one year low of $76.55 and a one year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the firm posted $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a yield of 0.89%. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GL. 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. Keefe, Bruyette & Woods lifted their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company cut their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 target price on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.00.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

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.