Natixis Advisors LLC Lowers Position in Globe Life Inc. (NYSE:GL)

Natixis Advisors LLC lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,593 shares of the company’s stock after selling 16,073 shares during the quarter. Natixis Advisors LLC owned about 0.14% of Globe Life worth $12,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GL. Raymond James Financial Inc. purchased a new position in Globe Life in the 4th quarter worth approximately $61,238,000. State Street Corp grew its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Principal Financial Group Inc. increased its stake in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Globe Life during the fourth quarter valued at about $487,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Globe Life by 61.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,395 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,338 shares of company stock valued at $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Up 0.5 %

NYSE GL opened at $127.54 on Thursday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39. The stock has a market capitalization of $10.69 billion, a PE ratio of 10.67 and a beta of 0.77. 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 business’s 50-day moving average is $121.96 and its 200 day moving average is $112.66.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GL. Morgan Stanley raised their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. 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 research note on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.60.

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.