Leith Wheeler Investment Counsel Ltd. Has $13.15 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Leith Wheeler Investment Counsel Ltd. lowered its stake in Globe Life Inc. (NYSE:GLGet Rating) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 109,102 shares of the company’s stock after selling 250 shares during the period. Globe Life comprises 2.0% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 8th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Globe Life were worth $13,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GL. JPMorgan Chase & Co. lifted its position in Globe Life by 7.2% in the first quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after purchasing an additional 6,299 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Globe Life by 3.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock valued at $1,464,000 after buying an additional 538 shares during the period. American Century Companies Inc. increased its stake in shares of Globe Life by 26.8% during the first quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock valued at $1,354,000 after buying an additional 2,848 shares during the period. Cetera Advisor Networks LLC increased its stake in shares of Globe Life by 3.0% during the first quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after buying an additional 137 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Globe Life by 23.9% during the first quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after buying an additional 4,897 shares during the period. Institutional investors own 81.04% of the company’s stock.

Globe Life Stock Down 3.4 %

Globe Life stock traded down $3.74 during trading hours on Friday, hitting $105.05. The stock had a trading volume of 1,183,165 shares, compared to its average volume of 520,428. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $10.14 billion, a P/E ratio of 14.06 and a beta of 0.80. Globe Life Inc. has a 12-month low of $87.87 and a 12-month high of $123.85. The stock’s 50-day moving average price is $119.10 and its 200-day moving average price is $114.07.

Globe Life (NYSE:GLGet Rating) last issued its earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Globe Life had a net margin of 14.18% and a return on equity of 15.03%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 earnings per share. Equities research analysts anticipate that Globe Life Inc. will post 10.37 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 3rd will be issued a $0.225 dividend. The ex-dividend date is Friday, March 31st. This is a boost from Globe Life’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a yield of 0.86%. Globe Life’s payout ratio is 11.11%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GL. Truist Financial boosted their target price on Globe Life from $112.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. Raymond James reduced their target price on Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, March 14th. Morgan Stanley upped their price target on Globe Life from $132.00 to $133.00 and gave the stock an “underweight” rating in a research note on Friday, February 24th. Finally, Credit Suisse Group raised their price objective on Globe Life from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $129.14.

Insiders Place Their Bets

In other news, CEO Larry M. Hutchison sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, December 30th. The shares were sold at an average price of $102.98, for a total transaction of $1,235,760.00. Following the completion of the transaction, the chief executive officer now directly owns 730,792 shares of the company’s stock, valued at $75,256,960.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Steven John Dichiaro sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $121.64, for a total transaction of $608,200.00. Following the completion of the transaction, the insider now directly owns 8,372 shares of the company’s stock, valued at $1,018,370.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Larry M. Hutchison sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, December 30th. The shares were sold at an average price of $102.98, for a total transaction of $1,235,760.00. Following the transaction, the chief executive officer now directly owns 730,792 shares of the company’s stock, valued at $75,256,960.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,900 shares of company stock valued at $12,593,525. Insiders own 4.62% of the company’s stock.

About Globe Life

(Get Rating)

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

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

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