HighTower Advisors LLC Lowers Stock Position in Globe Life Inc. (NYSE:GL)

HighTower Advisors LLC cut its holdings in Globe Life Inc. (NYSE:GL) by 22.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,603 shares of the company’s stock after selling 6,128 shares during the quarter. HighTower Advisors LLC’s holdings in Globe Life were worth $2,287,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Globe Life by 12.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,638 shares of the company’s stock valued at $875,000 after purchasing an additional 1,206 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Globe Life by 27.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 19,631 shares of the company’s stock valued at $1,615,000 after buying an additional 4,255 shares in the last quarter. Blue Trust Inc. raised its stake in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 554 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Globe Life by 15.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 195,089 shares of the company’s stock worth $16,052,000 after acquiring an additional 25,562 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Globe Life in the second quarter worth $1,439,000. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Raymond James upped their target price 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. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Truist Financial increased their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $127.10.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on 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 directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

NYSE GL opened at $105.42 on Friday. 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 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 8.92 and a beta of 0.81. The business’s fifty day moving average price is $108.06 and its 200-day moving average price is $98.00.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $2.71 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life’s dividend payout ratio is currently 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.