Summit Investment Advisors Inc. Sells 134 Shares of Globe Life Inc. (NYSE:GL)

Summit Investment Advisors Inc. trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 14.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 818 shares of the company’s stock after selling 134 shares during the period. Summit Investment Advisors Inc.’s holdings in Globe Life were worth $91,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GL. Versant Capital Management Inc boosted its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the period. Albion Financial Group UT acquired a new position in Globe Life during the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new stake in Globe Life during the fourth quarter valued at about $28,000. Avalon Trust Co acquired a new stake in shares of Globe Life in the fourth quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 90 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Up 0.9 %

Shares of GL opened at $122.83 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.22 billion, a PE ratio of 10.28 and a beta of 0.60. Globe Life Inc. has a 1 year low of $71.50 and a 1 year high of $133.76. The stock has a 50 day simple moving average of $124.13 and a 200-day simple moving average of $116.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. Globe Life’s dividend payout ratio is 9.04%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on shares of Globe Life from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley dropped their price objective on shares of Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $137.55.

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.