abrdn plc Sells 3,526 Shares of Globe Life Inc. (NYSE:GL)

abrdn plc trimmed its stake in Globe Life Inc. (NYSE:GL - Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased its stake in Globe Life by 149.2% in the 3rd quarter. CWM LLC now owns 17,901 shares of the company's stock worth $1,896,000 after purchasing an additional 10,717 shares in the last quarter. UMB Bank n.a. boosted its holdings 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 buying an additional 97 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Globe Life in the third quarter worth approximately $247,000. CHICAGO TRUST Co NA acquired a new stake in shares of Globe Life during the third quarter valued at approximately $354,000. Finally, Creative Planning lifted its position in shares of Globe Life by 43.8% in the 3rd quarter. Creative Planning now owns 32,477 shares of the company's stock valued at $3,440,000 after acquiring an additional 9,892 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Down 0.8 %

GL traded down $0.94 during midday trading on Tuesday, hitting $121.31. 708,877 shares of the company's stock traded hands, compared to its average volume of 582,362. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $10.18 billion, a PE ratio of 10.15 and a beta of 0.81. The stock's fifty day simple moving average is $113.44 and its 200-day simple moving average is $107.35. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last released 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 net margin of 18.53% and a return on equity of 22.32%. As a group, equities analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Globe Life's dividend payout ratio is currently 8.03%.

Analyst Ratings Changes

Several equities analysts have weighed in on GL shares. Morgan Stanley lifted their price objective on shares of Globe Life from $123.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Jefferies Financial Group lifted 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. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Truist Financial lifted 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. Finally, Raymond James increased their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.30.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,788 shares of company stock valued at $4,429,779. Insiders own 1.51% of the company's stock.

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.