Cornerstone Management Inc. Has $2.64 Million Holdings in Globe Life Inc. (NYSE:GL)

Cornerstone Management Inc. lessened its holdings in Globe Life Inc. (NYSE:GL) by 47.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,689 shares of the company’s stock after selling 21,019 shares during the period. Globe Life accounts for about 0.5% of Cornerstone Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Cornerstone Management Inc.’s holdings in Globe Life were worth $2,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares during the period. Albion Financial Group UT acquired a new stake in Globe Life during the fourth quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in shares of Globe Life in the 3rd quarter valued at approximately $32,000. True Wealth Design LLC bought a new position in shares of Globe Life during the 3rd quarter worth approximately $59,000. Finally, Private Trust Co. NA boosted its stake in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last 90 days. 1.51% of the stock is owned by company insiders.

Globe Life Price Performance

Shares of GL opened at $122.38 on Tuesday. The stock has a market cap of $10.27 billion, a P/E ratio of 10.35 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock’s 50-day moving average price is $112.33 and its two-hundred day moving average price is $106.17. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.78%. Globe Life’s dividend payout ratio is presently 8.12%.

Analyst Upgrades and Downgrades

GL has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Raymond James boosted their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Five 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 company’s stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $132.18.

Globe Life 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.