UMB Bank n.a. Lowers Holdings in Globe Life Inc. (NYSE:GL)

UMB Bank n.a. trimmed its position in Globe Life Inc. (NYSE:GL – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,548 shares of the company’s stock after selling 450 shares during the period. UMB Bank n.a.’s holdings in Globe Life were worth $3,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Globe Life by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,638,209 shares of the company’s stock valued at $1,060,631,000 after buying an additional 31,957 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after acquiring an additional 1,973,186 shares during the period. BlackRock Inc. lifted its holdings in Globe Life by 0.9% in the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after acquiring an additional 57,587 shares during the period. Boston Partners lifted its holdings in Globe Life by 2.2% in the third quarter. Boston Partners now owns 2,546,278 shares of the company’s stock valued at $254,128,000 after acquiring an additional 54,819 shares during the period. Finally, FMR LLC lifted its holdings in Globe Life by 7.9% in the second quarter. FMR LLC now owns 2,110,260 shares of the company’s stock valued at $205,687,000 after acquiring an additional 154,505 shares during the period. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Down 3.4 %

NYSE:GL opened at $105.05 on Friday. The stock has a fifty day simple moving average of $119.10 and a 200-day simple moving average of $114.07. Globe Life Inc. has a 52-week low of $87.87 and a 52-week high of $123.85. The company has a market capitalization of $10.14 billion, a PE ratio of 14.06 and a beta of 0.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33.

Globe Life (NYSE:GL – Get Rating) last announced its earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. Globe Life had a net margin of 14.18% and a return on equity of 15.03%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $1.70 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Globe Life Inc. will post 10.37 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 3rd will be paid a $0.225 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 31st. This represents a $0.90 annualized dividend and a yield of 0.86%. Globe Life’s payout ratio is presently 11.11%.

Analysts Set New Price Targets

GL has been the subject of a number of recent analyst reports. Morgan Stanley raised their target price on Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Raymond James reduced their target price on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating for the company in a report on Tuesday, March 14th. Truist Financial raised their target price on Globe Life from $112.00 to $125.00 and gave the company a “hold” rating in a report on Friday, February 3rd. JPMorgan Chase & Co. raised their target price on Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Finally, Credit Suisse Group lifted their price target on Globe Life from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $129.14.

Insider Activity at Globe Life

In related news, CEO Larry M. Hutchison sold 12,000 shares of the business’s stock in a transaction dated Friday, December 30th. The shares were sold at an average price of $102.98, for a total value of $1,235,760.00. Following the completion of the transaction, the chief executive officer now owns 730,792 shares of the company’s stock, valued at approximately $75,256,960.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $121.36, for a total value of $1,213,600.00. Following the completion of the sale, the chief executive officer now owns 3,370 shares in the company, valued at approximately $408,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction dated Friday, December 30th. The shares were sold at an average price of $102.98, for a total value of $1,235,760.00. Following the completion of the sale, the chief executive officer now owns 730,792 shares of the company’s stock, valued at approximately $75,256,960.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,900 shares of company stock valued at $12,593,525. 4.62% of the stock is owned by insiders.

About Globe Life

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.