Busey Bank Sells 1,010 Shares of Globe Life Inc. (NYSE:GL)

Busey Bank decreased its holdings in shares of Globe Life Inc. (NYSE:GL) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,325 shares of the company’s stock after selling 1,010 shares during the period. Busey Bank’s holdings in Globe Life were worth $482,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after buying an additional 97 shares in the last quarter. Ballentine Partners LLC grew its position in Globe Life by 4.5% in the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock valued at $313,000 after acquiring an additional 121 shares during the period. Thrivent Financial for Lutherans raised its stake in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after acquiring an additional 136 shares in the last quarter. Fiduciary Trust Co lifted its holdings in shares of Globe Life by 2.3% during the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after acquiring an additional 144 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Globe Life by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock valued at $2,110,000 after purchasing an additional 144 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is currently owned by insiders.

Globe Life Trading Up 0.3 %

Shares of GL opened at $122.32 on Friday. The stock’s fifty day simple moving average is $111.88 and its 200-day simple moving average is $105.45. The firm has a market capitalization of $10.27 billion, a PE ratio of 10.35 and a beta of 0.80. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Morgan Stanley boosted their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Finally, Raymond James boosted their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $132.18.

Globe Life Company 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.