Globe Life Inc. (NYSE:GL) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lessened its position in shares of Globe Life Inc. (NYSE:GL) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 2,338 shares of the company’s stock after selling 105 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Globe Life were worth $261,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GL. American Century Companies Inc. grew its stake in shares of Globe Life by 46.0% during the second quarter. American Century Companies Inc. now owns 97,664 shares of the company’s stock worth $8,036,000 after purchasing an additional 30,760 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Globe Life by 88.2% during the 2nd quarter. Edgestream Partners L.P. now owns 3,762 shares of the company’s stock worth $310,000 after acquiring an additional 1,763 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Globe Life by 24.2% in the 2nd quarter. Amalgamated Bank now owns 28,899 shares of the company’s stock valued at $2,378,000 after acquiring an additional 5,627 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Globe Life by 41.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,537 shares of the company’s stock worth $1,105,000 after purchasing an additional 3,981 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Globe Life in the second quarter valued at approximately $242,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GL. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Piper Sandler upped their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $134.00.

Globe Life Price Performance

Shares of NYSE GL opened at $119.70 on Wednesday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $110.28 and a two-hundred day moving average of $103.92. The stock has a market cap of $10.05 billion, a P/E ratio of 10.13 and a beta of 0.80.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last 90 days. 1.51% of the stock is currently owned by insiders.

About Globe Life

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.