Janney Montgomery Scott LLC Sells 17,610 Shares of Globe Life Inc. (NYSE:GL)

Janney Montgomery Scott LLC cut its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 48.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,923 shares of the company's stock after selling 17,610 shares during the period. Janney Montgomery Scott LLC's holdings in Globe Life were worth $2,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company's stock valued at $1,309,755,000 after acquiring an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Globe Life by 7.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company's stock valued at $11,824,000 after acquiring an additional 7,100 shares in the last quarter. Savant Capital LLC raised its stake in shares of Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company's stock valued at $6,189,000 after acquiring an additional 68,061 shares in the last quarter. Achmea Investment Management B.V. raised its stake in shares of Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock valued at $2,443,000 after acquiring an additional 17,878 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Globe Life by 308.5% in the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company's stock valued at $1,377,000 after acquiring an additional 8,932 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Shares of NYSE:GL traded down $0.28 during trading on Wednesday, hitting $110.07. 506,052 shares of the stock were exchanged, compared to its average volume of 1,538,773. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 9.31 and a beta of 0.81. The company's fifty day simple moving average is $106.75 and its 200-day simple moving average is $94.26. 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 (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 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%. Globe Life's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.71 EPS. Sell-side analysts expect that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Analyst Ratings Changes

GL has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price target on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Morgan Stanley lifted their price target 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. Five 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

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.