Globe Life Inc. (NYSE:GL) Shares Sold by abrdn plc

abrdn plc trimmed its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 51.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,047 shares of the company's stock after selling 16,101 shares during the period. abrdn plc's holdings in Globe Life were worth $1,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GL. Vanguard Group Inc. increased its position in shares of Globe Life by 3.9% during the first 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Globe Life by 7.5% during the first 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 during the last quarter. Savant Capital LLC increased its position in shares of Globe Life by 951.5% during the second 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 during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock valued at $2,443,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Globe Life by 308.5% in the first quarter. Bessemer Group Inc. now owns 11,827 shares of the company's stock valued at $1,377,000 after purchasing an additional 8,932 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GL. Morgan Stanley lifted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their price objective 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. Truist Financial lifted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Finally, TD Cowen assumed coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and an average price target of $124.50.

Globe Life Price Performance

Shares of NYSE:GL traded up $0.85 on Tuesday, reaching $104.34. 221,034 shares of the company were exchanged, compared to its average volume of 1,561,961. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 8.74 and a beta of 0.81. The company has a 50-day moving average of $106.12 and a 200-day moving average of $92.64.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 EPS. Equities analysts forecast that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life's dividend payout ratio (DPR) is 8.12%.

Globe Life Company 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.