Globe Life Inc. (NYSE:GL) Position Trimmed by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its stake in Globe Life Inc. (NYSE:GL - Free Report) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,100 shares of the company's stock after selling 77,800 shares during the period. Two Sigma Advisers LP owned approximately 0.28% of Globe Life worth $24,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Savant Capital LLC lifted 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 worth $6,189,000 after acquiring an additional 68,061 shares during the period. Achmea Investment Management B.V. lifted its stake 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 during the period. WINTON GROUP Ltd acquired a new stake in shares of Globe Life in the second quarter valued at about $15,483,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock valued at $2,095,000 after purchasing an additional 9,141 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Globe Life in the second quarter valued at about $4,018,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 1.7 %

GL stock traded down $1.85 during midday trading on Friday, reaching $104.76. 858,981 shares of the company's stock traded hands, compared to its average volume of 556,133. The company has a market capitalization of $8.79 billion, a P/E ratio of 8.86 and a beta of 0.81. 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 fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a 50-day moving average price of $108.13 and a two-hundred day moving average price of $97.33.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share 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 22.91%. Globe Life's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. Equities research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company 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 dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Globe Life's payout ratio is currently 8.12%.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target for the company. Finally, Raymond James lifted 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. 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 company presently has an average rating of "Moderate Buy" and an average price target 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.