Smith Thornton Advisors LLC Sells 5,500 Shares of Globe Life Inc. (NYSE:GL)

Smith Thornton Advisors LLC trimmed its position in Globe Life Inc. (NYSE:GL) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,164 shares of the company’s stock after selling 5,500 shares during the period. Globe Life comprises 1.6% of Smith Thornton Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Smith Thornton Advisors LLC’s holdings in Globe Life were worth $2,472,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares during the last quarter. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. boosted its stake in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new position in Globe Life in the third quarter valued at about $59,000. Finally, Quarry LP boosted its stake in Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 1.9 %

Shares of GL opened at $116.17 on Thursday. The stock has a market capitalization of $9.75 billion, a P/E ratio of 9.83 and a beta of 0.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $109.44 and a two-hundred day simple moving average of $102.67. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 EPS. On average, research analysts anticipate that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Globe Life’s dividend payout ratio is 8.12%.

Analysts Set New Price Targets

A number of brokerages recently commented on GL. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Raymond James increased their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Piper Sandler increased their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,788 shares of company stock valued at $4,429,779. Company insiders own 1.51% of the company’s stock.

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.