Captrust Financial Advisors Cuts Stake in Globe Life Inc. (NYSE:GL)

Captrust Financial Advisors reduced its stake in Globe Life Inc. (NYSE:GL - Free Report) by 91.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,056 shares of the company's stock after selling 160,175 shares during the period. Captrust Financial Advisors' holdings in Globe Life were worth $1,489,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GL. UMB Bank n.a. grew its stake 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 valued at $144,000 after buying an additional 97 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock valued at $373,000 after acquiring an additional 136 shares during the period. Fiduciary Trust Co grew its position in Globe Life by 2.3% in the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock valued at $670,000 after acquiring an additional 144 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Globe Life by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock worth $382,000 after purchasing an additional 166 shares in the last quarter. Finally, TrueWealth Advisors LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.51% of the company's stock.

Globe Life Stock Down 1.7 %

GL traded down $1.85 on Friday, reaching $104.76. The company's stock had a trading volume of 858,981 shares, compared to its average volume of 556,133. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 8.86 and a beta of 0.81. 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 quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $108.13 and a two-hundred day moving average of $97.33.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life's dividend payout ratio (DPR) is presently 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.