GHP Investment Advisors Inc. Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

GHP Investment Advisors Inc. cut its stake in shares of Globe Life Inc. (NYSE:GL) by 8.9% in the 4th quarter, Holdings Channel reports. The fund owned 18,401 shares of the company’s stock after selling 1,788 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Globe Life were worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC boosted its holdings in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the period. Nuance Investments LLC increased its holdings in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after acquiring an additional 78,354 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life 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 in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock worth $4,429,779 in the last three months. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Down 2.5 %

Shares of NYSE GL opened at $119.97 on Friday. The firm has a market cap of $10.07 billion, a P/E ratio of 10.15 and a beta of 0.81. 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 1 year low of $38.95 and a 1 year high of $132.00. The firm’s 50 day moving average price is $112.95 and its 200 day moving average price is $106.62.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. As a group, sell-side analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GL shares. Keefe, Bruyette & Woods raised their price objective on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective 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. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Truist Financial upped their price target 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. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $132.18.

About Globe Life

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.