US Bancorp DE Has $4.44 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

US Bancorp DE trimmed its stake in Globe Life Inc. (NYSE:GL) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,499 shares of the company’s stock after selling 571 shares during the quarter. US Bancorp DE’s holdings in Globe Life were worth $4,440,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GL. Wellington Management Group LLP lifted its position in shares of Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares in the last quarter. BlackRock Inc. lifted its position in shares of Globe Life by 0.9% during the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after purchasing an additional 57,587 shares in the last quarter. FMR LLC lifted its position in shares of Globe Life by 6.3% during the first quarter. FMR LLC now owns 2,689,921 shares of the company’s stock valued at $295,945,000 after purchasing an additional 160,145 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Globe Life by 18.2% during the first quarter. JPMorgan Chase & Co. now owns 2,678,038 shares of the company’s stock valued at $294,639,000 after purchasing an additional 412,639 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in shares of Globe Life by 53.5% during the second quarter. Cooke & Bieler LP now owns 2,287,036 shares of the company’s stock valued at $250,705,000 after purchasing an additional 797,267 shares in the last quarter. 80.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GL. Wells Fargo & Company raised shares of Globe Life from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $122.00 to $137.00 in a research report on Tuesday, October 31st. Jefferies Financial Group lifted their price objective on shares of Globe Life from $115.00 to $118.00 and gave the stock a “hold” rating in a research report on Thursday, September 14th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Raymond James lifted their price objective on shares of Globe Life from $138.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 23rd. Finally, StockNews.com assumed coverage on shares of Globe Life in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.38.

Globe Life Price Performance

Shares of NYSE:GL opened at $118.00 on Tuesday. The company has a 50 day moving average of $112.99 and a 200 day moving average of $110.99. The stock has a market cap of $11.11 billion, a P/E ratio of 12.63 and a beta of 0.78. Globe Life Inc. has a 12 month low of $102.23 and a 12 month high of $123.85. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.39.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.65 by $0.06. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Globe Life had a net margin of 16.95% and a return on equity of 22.60%. Globe Life’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.15 earnings per share. As a group, sell-side analysts forecast that Globe Life Inc. will post 10.6 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, January 5th will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.90 annualized dividend and a yield of 0.76%. Globe Life’s payout ratio is presently 9.64%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CAO Michael Shane Henrie sold 1,325 shares of Globe Life stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $111.20, for a total transaction of $147,340.00. Following the completion of the sale, the chief accounting officer now directly owns 700 shares in the company, valued at $77,840. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Globe Life news, CAO Michael Shane Henrie sold 1,325 shares of Globe Life stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $111.20, for a total transaction of $147,340.00. Following the completion of the sale, the chief accounting officer now directly owns 700 shares in the company, valued at $77,840. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Brian Mitchell sold 16,217 shares of Globe Life stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $111.97, for a total transaction of $1,815,817.49. Following the sale, the executive vice president now owns 36,635 shares of the company’s stock, valued at $4,102,020.95. The disclosure for this sale can be found here. Insiders sold a total of 67,393 shares of company stock worth $7,762,969 over the last three months. 4.33% of the stock is owned by insiders.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.