Globe Life Inc. (NYSE:GL) Shares Sold by Balentine LLC

Balentine LLC trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 30.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,819 shares of the company’s stock after selling 800 shares during the period. Balentine LLC’s holdings in Globe Life were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Private Trust Co. NA raised its stake in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Private Wealth Management Group LLC acquired a new position in Globe Life during the fourth quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in Globe Life in the 4th quarter worth about $28,000. Lindbrook Capital LLC boosted its position in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GL shares. Piper Sandler dropped their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Truist Financial cut their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Down 5.9 %

Shares of Globe Life stock opened at $80.55 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $90.71 and a two-hundred day moving average price of $111.29. The stock has a market capitalization of $7.43 billion, a P/E ratio of 7.69 and a beta of 0.78.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $2.53 earnings per share. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. Globe Life’s payout ratio is presently 9.17%.

Insider Buying and Selling

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Peter Kalmbach bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the chief financial officer now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,000 shares of company stock valued at $331,435. Insiders own 1.51% of the company’s stock.

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.