Victory Capital Management Inc. Has $37.55 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. grew its stake in Globe Life Inc. (NYSE:GL – Get Rating) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,599 shares of the company’s stock after buying an additional 21,547 shares during the period. Victory Capital Management Inc. owned 0.39% of Globe Life worth $37,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brinker Capital Investments LLC grew its stake in Globe Life by 3.1% during the third quarter. Brinker Capital Investments LLC now owns 7,449 shares of the company’s stock worth $743,000 after purchasing an additional 224 shares during the period. Kestra Advisory Services LLC boosted its holdings in Globe Life by 10.3% in the third quarter. Kestra Advisory Services LLC now owns 9,563 shares of the company’s stock worth $953,000 after acquiring an additional 890 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Globe Life by 8.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,238 shares of the company’s stock worth $123,000 after acquiring an additional 94 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Globe Life in the third quarter worth approximately $5,934,000. Finally, Smith Salley & Associates bought a new position in Globe Life in the third quarter worth approximately $519,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analyst Ratings Changes

GL has been the topic of several recent research reports. Credit Suisse Group increased their price target on Globe Life from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, December 19th. Morgan Stanley raised their target price on Globe Life from $115.00 to $132.00 and gave the company an “underweight” rating in a report on Tuesday, January 10th. JPMorgan Chase & Co. raised their target price on Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Truist Financial raised their target price on Globe Life from $100.00 to $112.00 and gave the company a “hold” rating in a report on Friday, October 28th. Finally, StockNews.com assumed coverage on Globe Life in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Insiders Place Their Bets

In other Globe Life news, CEO Larry M. Hutchison sold 12,000 shares of the firm’s stock in a transaction on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction on Friday, December 30th. The stock was sold at an average price of $102.98, for a total value of $1,235,760.00. Following the completion of the transaction, the chief executive officer now directly owns 730,792 shares in the company, valued at $75,256,960.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kenneth J. Matson sold 2,573 shares of Globe Life stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $116.17, for a total value of $298,905.41. Following the completion of the transaction, the insider now owns 29,153 shares of the company’s stock, valued at $3,386,704.01. The disclosure for this sale can be found here. Insiders sold 110,571 shares of company stock valued at $12,563,268 over the last ninety days. 4.62% of the stock is currently owned by insiders.

Globe Life Stock Performance

Shares of GL opened at $117.42 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 16.56 and a beta of 0.82. The stock has a 50 day moving average of $118.37 and a 200 day moving average of $108.85. Globe Life Inc. has a 12 month low of $87.87 and a 12 month high of $123.85.

Globe Life (NYSE:GL – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a return on equity of 12.02% and a net margin of 13.61%. As a group, sell-side analysts forecast that Globe Life Inc. will post 8.09 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, January 5th. Globe Life’s dividend payout ratio is currently 11.71%.

Globe Life Company Profile

(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.