Globe Life Inc. (NYSE:GL) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. reduced its position in shares of Globe Life Inc. (NYSE:GL) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,698 shares of the company’s stock after selling 3,306 shares during the period. Oakworth Capital Inc.’s holdings in Globe Life were worth $3,357,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Globe Life by 7.7% in the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the period. Commonwealth Equity Services LLC boosted its stake in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after buying an additional 167 shares during the period. Perigon Wealth Management LLC increased its position in shares of Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after acquiring an additional 184 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after acquiring an additional 201 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Globe Life by 29.6% in the 3rd quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock valued at $107,000 after acquiring an additional 230 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GL has been the subject of several research reports. Piper Sandler lifted their target price on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Raymond James boosted their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Finally, Truist Financial raised their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.40.

Globe Life Stock Up 0.4 %

Shares of Globe Life stock opened at $110.19 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a market capitalization of $9.92 billion, a P/E ratio of 10.52 and a beta of 0.81. The company has a 50 day moving average of $103.87 and a 200 day moving average of $90.61.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 EPS. As a group, research analysts forecast that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.