TrueWealth Advisors LLC Cuts Stake in Globe Life Inc. (NYSE:GL)

TrueWealth Advisors LLC lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,706 shares of the company’s stock after selling 435 shares during the period. TrueWealth Advisors LLC’s holdings in Globe Life were worth $1,417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GL. D. E. Shaw & Co. Inc. increased its stake in Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares during the last quarter. Nuance Investments LLC increased its position in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after acquiring an additional 693,346 shares during the period. International Assets Investment Management LLC raised its stake in Globe Life by 15,398.7% in the 3rd quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after acquiring an additional 334,459 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred 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 directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock valued at $4,429,779 over the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GL shares. Keefe, Bruyette & Woods raised their price objective on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Four equities research 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 an average rating of “Moderate Buy” and an average target price of $134.00.

Globe Life Price Performance

Shares of Globe Life stock opened at $118.47 on Friday. The firm has a market cap of $9.94 billion, a PE ratio of 10.02 and a beta of 0.80. The business has a 50-day moving average price of $109.90 and a 200 day moving average price of $103.11. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share 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 the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $2.71 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. Globe Life’s dividend payout ratio (DPR) is 8.12%.

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.