Xponance Inc. Sells 836 Shares of Globe Life Inc. (NYSE:GL)

Xponance Inc. decreased its stake in Globe Life Inc. (NYSE:GL) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,301 shares of the company’s stock after selling 836 shares during the period. Xponance Inc.’s holdings in Globe Life were worth $814,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Avalon Trust Co bought a new position in shares of Globe Life during the 4th quarter worth $41,000. Catalyst Funds Management Pty Ltd bought a new position in Globe Life during the fourth quarter worth about $323,000. Erste Asset Management GmbH increased its stake in shares of Globe Life by 3.7% in the fourth quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock worth $307,000 after purchasing an additional 100 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Globe Life in the fourth quarter worth about $28,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GL has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Wells Fargo & Company raised their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.60.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 2.3 %

GL stock opened at $129.79 on Tuesday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 10.86 and a beta of 0.77. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $122.87 and its 200 day moving average is $113.21.

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

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. Globe Life’s dividend payout ratio is 9.04%.

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.