Davis R M Inc. Sells 1,519 Shares of Globe Life Inc. (NYSE:GL)

Davis R M Inc. trimmed its holdings in Globe Life Inc. (NYSE:GL) by 41.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,120 shares of the company’s stock after selling 1,519 shares during the period. Davis R M Inc.’s holdings in Globe Life were worth $236,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. grew its position in Globe Life by 41.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 69,696 shares of the company’s stock worth $7,773,000 after acquiring an additional 20,530 shares in the last quarter. AlphaQuest LLC grew its position in Globe Life by 299.4% in the fourth quarter. AlphaQuest LLC now owns 16,685 shares of the company’s stock worth $1,861,000 after acquiring an additional 12,507 shares in the last quarter. Amundi grew its position in Globe Life by 57.6% in the fourth quarter. Amundi now owns 186,112 shares of the company’s stock worth $21,239,000 after acquiring an additional 68,004 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after acquiring an additional 88 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Globe Life in the fourth quarter worth approximately $61,238,000. 81.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GL. 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 report on Wednesday, February 12th. Morgan Stanley upped their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Price Performance

NYSE:GL opened at $122.20 on Thursday. The stock has a market cap of $10.25 billion, a P/E ratio of 10.23 and a beta of 0.77. Globe Life Inc. has a one year low of $38.95 and a one year high of $131.39. The company has a fifty day moving average price of $120.57 and a 200 day moving average price of $111.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life’s dividend payout ratio is currently 9.04%.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by corporate insiders.

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.