Crossmark Global Holdings Inc. Reduces Holdings in Globe Life Inc. (NYSE:GL)

Crossmark Global Holdings Inc. reduced its position in Globe Life Inc. (NYSE:GL) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,409 shares of the company’s stock after selling 1,867 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Globe Life were worth $890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of Globe Life in the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. lifted its stake in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC lifted its stake in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Globe Life during the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. grew its position in shares of Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after purchasing an additional 554 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

GL has been the topic of a number of analyst reports. TD Cowen began coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley lifted their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Performance

NYSE:GL opened at $108.97 on Friday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a 50 day moving average price of $106.83 and a 200 day moving average price of $94.36. The stock has a market capitalization of $9.15 billion, a P/E ratio of 9.22 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $2.71 earnings per share. Equities research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current year.

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.