Globe Life Inc. (NYSE:GL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,301 shares of the company's stock after selling 105,273 shares during the quarter. JPMorgan Chase & Co. owned 0.20% of Globe Life worth $18,037,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Globe Life during the third quarter valued at $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock valued at $50,000 after buying an additional 281 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Globe Life in the 3rd quarter valued at about $59,000. Quarry LP boosted its stake in shares of Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company's stock worth $69,000 after buying an additional 270 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock worth $71,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares of the company's stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares of the company's stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,788 shares of company stock valued at $4,429,779. Corporate insiders own 1.51% of the company's stock.

Globe Life Price Performance

Globe Life stock traded down $1.61 during midday trading on Friday, reaching $112.51. The company had a trading volume of 772,560 shares, compared to its average volume of 695,860. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $9.44 billion, a P/E ratio of 9.52 and a beta of 0.80. The firm's fifty day simple moving average is $108.89 and its 200-day simple moving average is $101.76.

Globe Life (NYSE:GL - Get Free Report) last released 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. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.71 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is 8.12%.

Analyst Ratings Changes

A number of brokerages have issued reports on GL. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price target for the company. Piper Sandler boosted 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. Raymond James increased 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. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.00.

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.