Globe Life Inc. (NYSE:GL) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Globe Life Inc. (NYSE:GL - Free Report) by 38.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,742 shares of the company's stock after selling 11,157 shares during the period. Amalgamated Bank's holdings in Globe Life were worth $1,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Asset Management One Co. Ltd. raised its position in Globe Life by 33.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,767 shares of the company's stock worth $187,000 after buying an additional 442 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Globe Life in the third quarter worth $73,000. TrueWealth Advisors LLC raised its holdings in shares of Globe Life by 1.3% during the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock worth $1,392,000 after purchasing an additional 170 shares during the last quarter. Van ECK Associates Corp lifted its position in Globe Life by 40.0% during the third quarter. Van ECK Associates Corp now owns 58,455 shares of the company's stock valued at $6,480,000 after purchasing an additional 16,703 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Globe Life by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock valued at $382,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Price Performance

NYSE:GL traded up $0.20 during trading hours on Wednesday, reaching $110.55. 132,204 shares of the company were exchanged, compared to its average volume of 1,537,074. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.28 billion, a PE ratio of 9.37 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. The stock's 50-day moving average is $106.66 and its 200-day moving average is $94.15.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price target on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Five research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $124.50.

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.