Worldquant Millennium Advisors LLC Has $8.01 Million Holdings in Globe Life Inc. (NYSE:GL)

Worldquant Millennium Advisors LLC lessened its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 79.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,589 shares of the company's stock after selling 301,030 shares during the period. Worldquant Millennium Advisors LLC owned 0.09% of Globe Life worth $8,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. UMB Bank n.a. lifted its position in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock worth $144,000 after purchasing an additional 97 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after buying an additional 136 shares during the period. Fiduciary Trust Co lifted its holdings in shares of Globe Life by 2.3% during the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock worth $670,000 after buying an additional 144 shares during the last quarter. Farther Finance Advisors LLC boosted its position 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 valued at $382,000 after acquiring an additional 166 shares during the period. Finally, TrueWealth Advisors LLC grew its stake in shares of 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 acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

Shares of GL traded down $1.85 during mid-day trading on Friday, hitting $104.76. 858,981 shares of the company traded hands, compared to its average volume of 556,133. 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 stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 8.86 and a beta of 0.81. The business has a 50-day moving average of $108.13 and a 200 day moving average of $97.33. 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 issued its quarterly 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. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 earnings per share. As a group, equities analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life's dividend payout ratio is currently 8.12%.

Analyst Ratings Changes

Several research firms recently weighed in on GL. Truist Financial increased their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Morgan Stanley raised their price objective on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. 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 report on Tuesday, October 29th. 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 research report on Tuesday, October 15th. Finally, Piper Sandler lifted their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Five investment 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 stock. According to data from MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price 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.