Globe Life Inc. (NYSE:GL) Stake Cut by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in Globe Life Inc. (NYSE:GL) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 200,487 shares of the company’s stock after selling 8,786 shares during the quarter. Rhumbline Advisers’ holdings in Globe Life were worth $22,358,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc grew its stake in shares of Globe Life by 388.0% in the 4th 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 fourth quarter valued at $28,000. True Wealth Design LLC bought a new stake in Globe Life in the third quarter valued at $59,000. Private Trust Co. NA grew its holdings in shares of Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of Globe Life during the third quarter worth $73,000. 81.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.50.

Globe Life Stock Up 0.2 %

GL stock opened at $124.24 on Friday. 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 business has a 50 day moving average price of $116.19 and a two-hundred day moving average price of $108.83. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Analysts anticipate that Globe Life Inc. will post 13.86 EPS for the current fiscal year.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,678 shares of company stock worth $8,799,822 over the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

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.