Anchor Capital Advisors LLC Sells 31,647 Shares of Globe Life Inc. (NYSE:GL)

Anchor Capital Advisors LLC cut its position in shares of Globe Life Inc. (NYSE:GL) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 452,524 shares of the company’s stock after selling 31,647 shares during the period. Globe Life accounts for about 1.5% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Anchor Capital Advisors LLC’s holdings in Globe Life were worth $55,081,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Private Trust Co. NA boosted its holdings in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Globe Life in the 4th quarter valued at $28,000. Lindbrook Capital LLC raised its stake in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Globe Life during the fourth quarter valued at $60,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at $63,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GL has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Evercore ISI reduced their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Finally, Truist Financial lowered their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Trading Up 3.1 %

Shares of NYSE GL traded up $2.34 during midday trading on Monday, hitting $78.09. The stock had a trading volume of 4,649,181 shares, compared to its average volume of 2,162,230. The firm has a market cap of $7.34 billion, a P/E ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The company’s 50-day simple moving average is $106.65 and its 200 day simple moving average is $115.32.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. Research analysts anticipate that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director David A. Rodriguez acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the transaction, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Globe Life 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.