Oak Thistle LLC Sells 6,380 Shares of Globe Life Inc. (NYSE:GL)

Oak Thistle LLC cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 68.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,987 shares of the company’s stock after selling 6,380 shares during the quarter. Oak Thistle LLC’s holdings in Globe Life were worth $333,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Versant Capital Management Inc grew its position in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new position in Globe Life in the 3rd quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. boosted its stake in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. True Wealth Design LLC purchased a new stake in Globe Life during the 3rd quarter valued at approximately $59,000. Finally, Quarry LP raised its position in shares of Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

NYSE GL opened at $118.47 on Friday. The business’s 50 day moving average price is $109.90 and its 200-day moving average price is $103.11. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market cap of $9.94 billion, a P/E ratio of 10.02 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for 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 business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. Sell-side analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

Analysts Set New Price Targets

GL has been the subject of several research analyst reports. Wells Fargo & Company raised 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. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group boosted their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Finally, Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Insider Buying and Selling at Globe Life

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last 90 days. Company insiders own 1.51% of the company’s stock.

About Globe Life

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.