Globe Life Inc. (NYSE:GL) Stock Position Cut by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in Globe Life Inc. (NYSE:GL - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,880 shares of the company's stock after selling 6,712 shares during the quarter. iA Global Asset Management Inc.'s holdings in Globe Life were worth $305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GL. UMB Bank n.a. increased its holdings in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock worth $144,000 after acquiring an additional 97 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Globe Life by 4.0% during the third 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 last quarter. Fiduciary Trust Co raised its stake 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 purchasing an additional 144 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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. Finally, TrueWealth Advisors LLC lifted its position in 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 buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 1.4 %

Shares of GL traded up $1.44 during midday trading on Wednesday, reaching $105.09. 716,965 shares of the company were exchanged, compared to its average volume of 1,467,769. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a 50-day moving average price of $108.09 and a 200-day moving average price of $97.73. 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 company has a market cap of $8.82 billion, a price-to-earnings ratio of 8.76 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during 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%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 earnings per share. Research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life's dividend payout ratio (DPR) is 8.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GL shares. Piper Sandler upped their price objective 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. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Raymond James raised their target price 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. 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 investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.10.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is owned by company insiders.

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.