Welch Group LLC Has $5.29 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Welch Group LLC reduced its stake in Globe Life Inc. (NYSE:GL) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 48,099 shares of the company’s stock after selling 831 shares during the quarter. Welch Group LLC’s holdings in Globe Life were worth $5,288,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management increased its position in Globe Life by 144.6% in the 4th quarter. Spire Wealth Management now owns 4,066 shares of the company’s stock valued at $453,000 after buying an additional 2,404 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Globe Life in the fourth quarter valued at approximately $240,000. Caprock Group LLC bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $517,000. DMC Group LLC raised its position in shares of Globe Life by 45.1% during the fourth quarter. DMC Group LLC now owns 3,194 shares of the company’s stock worth $356,000 after purchasing an additional 993 shares during the period. Finally, Swedbank AB bought a new position in shares of Globe Life in the 4th quarter worth $52,414,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,788 shares of company stock valued at $4,429,779. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE GL opened at $122.38 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $10.27 billion, a PE ratio of 10.35 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a 50-day simple moving average of $112.33 and a 200 day simple moving average of $106.17.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $0.24 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.78%. Globe Life’s payout ratio is 8.12%.

Analysts Set New Price Targets

A number of analysts have commented on GL shares. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Finally, Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.18.

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.