Smith Thornton Advisors LLC Sells 5,500 Shares of Globe Life Inc. (NYSE:GL)

Smith Thornton Advisors LLC cut its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,164 shares of the company's stock after selling 5,500 shares during the quarter. Globe Life accounts for 1.6% of Smith Thornton Advisors LLC's portfolio, making the stock its 21st biggest holding. Smith Thornton Advisors LLC's holdings in Globe Life were worth $2,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC acquired a new stake in Globe Life during the fourth quarter valued at approximately $217,000. Harbour Capital Advisors LLC acquired a new stake in Globe Life during the fourth quarter valued at approximately $244,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Globe Life by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company's stock valued at $2,110,000 after purchasing an additional 144 shares in the last quarter. Diversified Trust Co acquired a new stake in Globe Life during the fourth quarter valued at approximately $356,000. Finally, Pensionfund Sabic boosted its holdings in Globe Life by 20.4% during the fourth quarter. Pensionfund Sabic now owns 11,800 shares of the company's stock valued at $1,316,000 after purchasing an additional 2,000 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted 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. Morgan Stanley lifted their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Raymond James lifted their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a "buy" rating and a $150.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.00.

Globe Life Trading Up 0.9 %

GL stock traded up $0.99 during trading on Thursday, hitting $117.17. The company had a trading volume of 351,026 shares, compared to its average volume of 593,803. 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 firm has a 50-day moving average price of $109.55 and a 200-day moving average price of $102.76. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 9.91 and a beta of 0.80.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Announces Dividend

The firm 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 0.82%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio is presently 8.12%.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company's stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares of the company's stock, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,788 shares of company stock valued at $4,429,779. Company insiders own 1.51% of the company's stock.

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.