abrdn plc Has $1.28 Million Stock Position in Globe Life Inc. (NYSE:GL)

abrdn plc lowered its stake in Globe Life Inc. (NYSE:GL) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,521 shares of the company’s stock after selling 3,526 shares during the quarter. abrdn plc’s holdings in Globe Life were worth $1,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GL. Nuance Investments LLC boosted its position in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Swedbank AB bought a new stake in shares of Globe Life in the fourth quarter worth $52,414,000. International Assets Investment Management LLC boosted its holdings in Globe Life by 15,398.7% during the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after purchasing an additional 334,459 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Globe Life by 78.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock valued at $30,768,000 after buying an additional 127,764 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the subject of a number of recent research reports. Raymond James increased their price objective 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. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. BMO Capital Markets assumed coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Piper Sandler boosted their target price 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. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $131.80.

Globe Life Trading Down 1.0 %

GL stock opened at $122.29 on Tuesday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 10.23 and a beta of 0.81. The company has a fifty day moving average price of $113.44 and a two-hundred day moving average price of $107.35. 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 (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts anticipate that Globe Life Inc. will post 13.57 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s payout ratio is 8.03%.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s 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 directly owns 13,485 shares of the company’s stock, valued at $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,788 shares of company stock worth $4,429,779. 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.