Globe Life Inc. (NYSE:GL) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. reduced its position in Globe Life Inc. (NYSE:GL) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,698 shares of the company’s stock after selling 3,306 shares during the quarter. Oakworth Capital Inc.’s holdings in Globe Life were worth $3,357,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its position in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after buying an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after buying an additional 184 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after buying an additional 201 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Globe Life by 29.6% during the third quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock worth $107,000 after buying an additional 230 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.4 %

Shares of NYSE GL opened at $110.19 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $103.87 and a 200 day moving average price of $90.61. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 10.52 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. Equities research analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent research reports. Evercore ISI increased their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Piper Sandler increased their price target on Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Raymond James boosted their price target on shares of 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

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.