Bank of New York Mellon Corp lessened its stake in shares of National Western Life Group, Inc. (NASDAQ:NWLI) by 10.8% during the 4th quarter, HoldingsChannel reports. The fund owned 14,842 shares of the financial services provider’s stock after selling 1,791 shares during the period. Bank of New York Mellon Corp’s holdings in National Western Life Group were worth $4,913,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in National Western Life Group during the 3rd quarter valued at $125,000. Unison Advisors LLC bought a new stake in National Western Life Group during the 4th quarter valued at $263,000. Teacher Retirement System of Texas bought a new stake in National Western Life Group during the 4th quarter valued at $272,000. Bessemer Group Inc. bought a new stake in National Western Life Group during the 4th quarter valued at $662,000. Finally, Wells Fargo & Company MN boosted its position in National Western Life Group by 55.9% during the 3rd quarter. Wells Fargo & Company MN now owns 2,632 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 944 shares in the last quarter. 80.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Ross R. Moody sold 608 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $312.48, for a total transaction of $189,987.84. Following the completion of the sale, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,724,264.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Robert L. Moody sold 726 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $320.58, for a total value of $232,741.08. Following the sale, the insider now owns 1,166,596 shares of the company’s stock, valued at approximately $373,987,345.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,713 shares of company stock worth $541,906 in the last ninety days. Insiders own 1.00% of the company’s stock.
Shares of NASDAQ NWLI opened at $306.70 on Monday. The firm has a market cap of $1,115.16, a price-to-earnings ratio of 10.76 and a beta of 1.35. National Western Life Group, Inc. has a 12-month low of $276.00 and a 12-month high of $368.00.
National Western Life Group (NASDAQ:NWLI) last announced its earnings results on Wednesday, February 28th. The financial services provider reported $10.48 earnings per share (EPS) for the quarter. The business had revenue of $247.82 million for the quarter. National Western Life Group had a return on equity of 5.52% and a net margin of 12.27%.
Several analysts have issued reports on the company. BidaskClub cut National Western Life Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 28th. ValuEngine cut National Western Life Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd.
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National Western Life Group Company Profile
National Western Life Insurance Company (National Western) is a stock life insurance company. The Company operates in two segments: Domestic Insurance Operations and International Insurance Operations. The products marketed under domestic insurance operations are annuities, universal life insurance and traditional life insurance, which include both term and whole life products.
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