Globe Life Inc. (NYSE:GL) Shares Sold by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC cut its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 15.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,664 shares of the company's stock after selling 5,000 shares during the period. Globe Life accounts for about 1.9% of Smith Thornton Advisors LLC's portfolio, making the stock its 11th largest holding. Smith Thornton Advisors LLC's holdings in Globe Life were worth $2,930,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GL. Riverview Trust Co purchased a new stake in Globe Life in the third quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. boosted its holdings in 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 acquiring an additional 281 shares during the period. LRI Investments LLC grew its position in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company's stock valued at $51,000 after acquiring an additional 557 shares in the last quarter. Family Firm Inc. purchased a new stake in Globe Life during the second quarter worth about $54,000. Finally, Blue Trust Inc. lifted its position in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company's stock worth $64,000 after purchasing an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

GL traded up $1.33 during trading on Friday, hitting $109.93. 220,968 shares of the stock were exchanged, compared to its average volume of 1,549,441. The company has a quick ratio of 0.05, a current 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 stock has a fifty day moving average price of $106.39 and a two-hundred day moving average price of $93.14. The firm has a market capitalization of $9.87 billion, a P/E ratio of 9.19 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last released 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. Globe Life's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, October 25th. Morgan Stanley lifted their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised 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. Piper Sandler boosted their target price 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. Finally, Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

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.