HighTower Advisors LLC Sells 6,128 Shares of Globe Life Inc. (NYSE:GL)

HighTower Advisors LLC decreased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,603 shares of the company's stock after selling 6,128 shares during the period. HighTower Advisors LLC's holdings in Globe Life were worth $2,287,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. 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 buying an additional 97 shares in the last quarter. Thrivent Financial for Lutherans increased its position 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 lifted its holdings in 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 acquiring an additional 144 shares during the period. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 166 shares during the last quarter. Finally, TrueWealth Advisors LLC grew its stake in Globe Life by 1.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock valued at $1,392,000 after purchasing an additional 170 shares during the period. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

GL traded up $0.91 on Friday, hitting $105.42. The company's stock had a trading volume of 697,102 shares, compared to its average volume of 1,461,002. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market cap of $8.85 billion, a P/E ratio of 8.92 and a beta of 0.81. 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 company's 50 day simple moving average is $108.06 and its 200-day simple moving average is $98.10.

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

Globe Life Dividend Announcement

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

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GL. Piper Sandler lifted their target price on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Morgan Stanley lifted their price objective on shares of 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 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. Truist Financial raised their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Finally, Raymond James lifted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Five equities research 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. Based on data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $127.10.

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.