HighTower Advisors LLC Cuts Stock Position in Globe Life Inc. (NYSE:GL)

HighTower Advisors LLC trimmed its holdings in Globe Life Inc. (NYSE:GL) by 22.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,603 shares of the company’s stock after selling 6,128 shares during the period. HighTower Advisors LLC’s holdings in Globe Life were worth $2,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted 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 in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Globe Life by 27.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,631 shares of the company’s stock worth $1,615,000 after buying an additional 4,255 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Globe Life by 15.1% during the second 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 during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Globe Life during the second quarter valued at $1,439,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.9 %

GL stock opened at $105.42 on Friday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 8.92 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $108.06 and its two-hundred day simple moving average is $98.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Analyst Ratings Changes

Several brokerages have commented on GL. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen began coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Five 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 stock. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $127.10.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.