Geneos Wealth Management Inc. Trims Stock Position in Globe Life Inc. (NYSE:GL)

Geneos Wealth Management Inc. decreased its position in Globe Life Inc. (NYSE:GLFree Report) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,604 shares of the company’s stock after selling 156 shares during the period. Geneos Wealth Management Inc.’s holdings in Globe Life were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. 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 during the period. Geode Capital Management LLC grew its holdings in shares of Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after purchasing an additional 89,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after purchasing an additional 277,108 shares during the last quarter. Nuance Investments LLC increased its position in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after purchasing an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings in Globe Life by 8.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after buying an additional 78,354 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

GL stock opened at $121.75 on Wednesday. The business’s 50-day moving average is $111.35 and its two-hundred day moving average is $105.21. 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 firm has a market capitalization of $10.22 billion, a P/E ratio of 10.30 and a beta of 0.80. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Globe Life’s dividend payout ratio is currently 8.12%.

Insiders Place Their Bets

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GL shares. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James lifted their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley upped their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.18.

View Our Latest Stock Analysis on Globe Life

Globe Life Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GLFree Report).

Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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