Financial Management Professionals Inc. Sells 600 Shares of Globe Life Inc. (NYSE:GL)

Financial Management Professionals Inc. reduced its stake in Globe Life Inc. (NYSE:GL – Get Rating) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,371 shares of the company’s stock after selling 600 shares during the quarter. Globe Life accounts for 0.8% of Financial Management Professionals Inc.’s portfolio, making the stock its 27th largest position. Financial Management Professionals Inc.’s holdings in Globe Life were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its position in Globe Life by 39.7% during the 4th quarter. Yousif Capital Management LLC now owns 22,161 shares of the company’s stock worth $2,672,000 after buying an additional 6,301 shares in the last quarter. Symmetry Partners LLC bought a new stake in Globe Life during the 4th quarter worth about $204,000. Legacy Private Trust Co. bought a new stake in Globe Life during the 4th quarter worth about $213,000. Bank of New York Mellon Corp lifted its position in Globe Life by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 873,160 shares of the company’s stock worth $87,053,000 after buying an additional 14,154 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Globe Life by 4.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 255,285 shares of the company’s stock worth $25,453,000 after buying an additional 11,275 shares in the last quarter. 81.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of the 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 owns 730,792 shares in the company, valued at approximately $75,256,960.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Steven John Dichiaro sold 5,000 shares of the company’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 sale, the insider now owns 8,372 shares of the company’s stock, valued at approximately $1,018,370.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Larry M. Hutchison sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 30th. The stock was sold at an average price of $102.98, for a total transaction of $1,235,760.00. Following the sale, the chief executive officer now directly owns 730,792 shares of the company’s stock, valued at approximately $75,256,960.16. The disclosure for this sale can be found here. Insiders have sold a total of 105,900 shares of company stock worth $12,593,525 in the last quarter. Corporate insiders own 4.62% of the company’s stock.

Globe Life Stock Performance

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

Globe Life (NYSE:GL – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Globe Life had a net margin of 14.18% and a return on equity of 15.03%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business earned $1.70 EPS. Globe Life’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that Globe Life Inc. will post 10.37 earnings per share for the current fiscal year.

Globe Life Increases Dividend

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

Analyst Upgrades and Downgrades

GL has been the topic of several analyst reports. Raymond James cut their price target on shares of Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, March 14th. Credit Suisse Group upped their target price on shares of Globe Life from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, December 19th. Morgan Stanley upped their target price on shares of Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Piper Sandler upped their target price on shares of Globe Life from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.14.

Globe Life Company Profile

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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.