Globe Life Inc. (NYSE:GL) Shares Sold by abrdn plc

abrdn plc lowered its position in shares of Globe Life Inc. (NYSE:GL) by 51.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,047 shares of the company’s stock after selling 16,101 shares during the period. abrdn plc’s holdings in Globe Life were worth $1,587,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after acquiring an additional 97 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Globe Life by 7.7% in the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock valued at $284,000 after purchasing an additional 191 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares in the last quarter. Blue Trust Inc. increased its position in Globe Life by 29.6% during the third quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock worth $107,000 after buying an additional 230 shares during the last quarter. Finally, Quarry LP raised its holdings in Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler boosted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their target price 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. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Down 0.5 %

GL opened at $103.49 on Tuesday. The company has a market capitalization of $9.30 billion, a P/E ratio of 8.76 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s fifty day moving average price is $106.10 and its two-hundred day moving average price is $92.37. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

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.