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% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,338 shares of the company’s stock after selling 105 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Globe Life were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Polianta Ltd acquired a new stake in Globe Life during the fourth quarter valued at $1,249,000. HB Wealth Management LLC grew its position in shares of Globe Life by 49.4% in the fourth quarter. HB Wealth Management LLC now owns 3,093 shares of the company’s stock valued at $345,000 after purchasing an additional 1,023 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at about $487,000. Kathmere Capital Management LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at about $217,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at about $244,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of GL stock opened at $119.70 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s 50-day moving average is $110.28 and its two-hundred day moving average is $103.92. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market capitalization of $10.05 billion, a PE ratio of 10.13 and a beta of 0.80.

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

Globe Life Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on GL shares. Raymond James lifted their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $134.00.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,788 shares of company stock valued at $4,429,779 over the last ninety days. Company 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.