Globe Life Inc. (NYSE:GL) Holdings Lowered by Busey Bank

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

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

Insider Buying and Selling at Globe Life

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GL. Keefe, Bruyette & Woods increased their price objective on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their target price 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. Finally, TD Cowen initiated coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.18.

Globe Life Stock Performance

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

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid 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 0.78%. Globe Life’s payout ratio is 8.12%.

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.