Globe Life Inc. (NYSE:GL) Stock Holdings Reduced by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 79.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,243 shares of the company's stock after selling 12,650 shares during the quarter. Verition Fund Management LLC's holdings in Globe Life were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 12.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,638 shares of the company's stock worth $875,000 after purchasing an additional 1,206 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Globe Life by 27.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 19,631 shares of the company's stock valued at $1,615,000 after buying an additional 4,255 shares in the last quarter. Blue Trust Inc. grew its stake in Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company's stock valued at $64,000 after acquiring an additional 554 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Globe Life by 15.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 195,089 shares of the company's stock worth $16,052,000 after acquiring an additional 25,562 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Globe Life in the 2nd quarter worth $1,439,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GL shares. TD Cowen assumed coverage on Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target on the stock. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" 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 company a "strong-buy" rating in a research note on Tuesday, October 15th. Piper Sandler lifted their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.10.

Globe Life Trading Up 0.9 %

GL traded up $0.91 on Friday, reaching $105.42. 697,102 shares of the company's stock were exchanged, compared to its average volume of 1,461,002. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company's 50 day moving average is $108.06 and its 200-day moving average is $98.10. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 8.92 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced 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 net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The company 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 0.91%. The ex-dividend date is Monday, January 6th. Globe Life's dividend payout ratio is presently 8.12%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 owns 16,396 shares of the company's stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.51% of the stock is owned by corporate insiders.

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.