Globe Life Inc. (NYSE:GL) Holdings Trimmed by Verition Fund Management LLC

Verition Fund Management LLC cut its holdings in Globe Life Inc. (NYSE:GL) by 79.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,243 shares of the company’s stock after selling 12,650 shares during the quarter. Verition Fund Management LLC’s holdings in Globe Life were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hantz Financial Services Inc. grew its stake in shares of Globe Life by 15.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 12,048 shares of the company’s stock worth $1,276,000 after purchasing an additional 1,595 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Globe Life by 9.8% during the third quarter. Public Sector Pension Investment Board now owns 15,675 shares of the company’s stock worth $1,660,000 after buying an additional 1,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Globe Life by 12.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,098 shares of the company’s stock valued at $1,811,000 after buying an additional 1,919 shares in the last quarter. Finally, Fiduciary Trust Co lifted its position in shares of Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after acquiring an additional 144 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

GL stock opened at $105.42 on Friday. The firm has a 50 day simple moving average of $108.06 and a 200 day simple moving average of $98.00. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $8.85 billion, a P/E ratio of 8.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life’s payout ratio is 8.12%.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GL. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $127.10.

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.