Globe Life Inc. (NYSE:GL) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Globe Life Inc. (NYSE:GL) by 65.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,393 shares of the company’s stock after selling 166,018 shares during the quarter. SG Americas Securities LLC’s holdings in Globe Life were worth $9,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GL. Versant Capital Management Inc increased its holdings in shares of 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 buying an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of Globe Life in the 4th quarter worth $28,000. Riverview Trust Co acquired a new stake in shares of Globe Life during the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Globe Life in the 3rd quarter valued at $59,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GL shares. Piper Sandler boosted their price target 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. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Jefferies Financial Group increased their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a report on Thursday. They set a “market perform” rating and a $114.00 price target on the stock. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.18.

Insider Activity

In other news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last 90 days. 1.51% of the stock is currently owned by company insiders.

Globe Life Trading Down 1.8 %

Shares of NYSE:GL opened at $118.34 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a fifty day moving average price of $110.67 and a 200 day moving average price of $104.13. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.93 billion, a PE ratio of 10.01 and a beta of 0.80.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.81%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Globe Life 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.