Fmr LLC Decreases Stake in Globe Life Inc. (NYSE:GL)

FMR LLC lessened its position in Globe Life Inc. (NYSE:GL - Free Report) by 45.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466,826 shares of the company's stock after selling 383,540 shares during the quarter. FMR LLC owned 0.56% of Globe Life worth $49,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GL. UMB Bank n.a. raised its stake in 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 in the last quarter. Thrivent Financial for Lutherans raised its stake in Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after buying an additional 136 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Globe Life by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock worth $382,000 after buying an additional 166 shares in the last quarter. TrueWealth Advisors LLC raised its stake in Globe Life by 1.3% in the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock worth $1,392,000 after buying an additional 170 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Globe Life by 7.7% in the third quarter. Ballentine Partners LLC now owns 2,682 shares of the company's stock worth $284,000 after buying an additional 191 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

Shares of Globe Life stock traded down $1.85 on Friday, hitting $104.76. 858,981 shares of the company's stock were exchanged, compared to its average volume of 556,133. 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 Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a 50-day simple moving average of $108.13 and a 200-day simple moving average of $97.33. The stock has a market capitalization of $8.79 billion, a PE ratio of 8.86 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Globe Life's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 EPS. As a group, equities analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GL shares. Piper Sandler raised their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. 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. Finally, TD Cowen started coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a "buy" rating and a $150.00 target price for the company. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.51% of the company's stock.

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.