Envestnet Portfolio Solutions Inc. Reduces Position in Globe Life Inc. (NYSE:GL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,687 shares of the company’s stock after selling 3,143 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Globe Life were worth $2,196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GL. Versant Capital Management Inc boosted its stake in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT purchased a new stake in shares of Globe Life during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in Globe Life in the fourth quarter worth $28,000. Avalon Trust Co purchased a new stake in Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GL. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by corporate insiders.

Globe Life Price Performance

Shares of NYSE:GL opened at $128.65 on Friday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. 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 business has a fifty day moving average price of $122.24 and a 200-day moving average price of $112.77. The company has a market capitalization of $10.79 billion, a PE ratio of 10.77 and a beta of 0.77.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.84%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio (DPR) is presently 9.04%.

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.