Mutual of America Capital Management LLC Sells 1,002 Shares of Globe Life Inc. (NYSE:GL)

Mutual of America Capital Management LLC reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,058 shares of the company’s stock after selling 1,002 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Globe Life were worth $1,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new position in Globe Life during the 4th quarter valued at approximately $28,000. True Wealth Design LLC bought a new position in Globe Life in the 3rd quarter worth about $59,000. Private Trust Co. NA lifted its position 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 acquiring an additional 270 shares in the last quarter. Finally, LRI Investments LLC boosted its position in shares of Globe Life by 31.5% during the third quarter. LRI Investments LLC now owns 814 shares of the company’s stock valued at $89,000 after buying an additional 195 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on GL shares. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upgraded 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. Wells Fargo & Company increased their price target on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley raised their price target on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Five research 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. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Price Performance

Shares of NYSE GL opened at $125.55 on Monday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $10.53 billion, a PE ratio of 10.51 and a beta of 0.77. The business has a 50-day simple moving average of $119.84 and a two-hundred day simple moving average of $111.47.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

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.