Janney Montgomery Scott LLC Sells 542 Shares of Globe Life Inc. (NYSE:GL)

Janney Montgomery Scott LLC cut its holdings in Globe Life Inc. (NYSE:GL) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,381 shares of the company’s stock after selling 542 shares during the period. Janney Montgomery Scott LLC’s holdings in Globe Life were worth $2,050,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the last quarter. Albion Financial Group UT purchased a new stake in Globe Life in the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in shares of Globe Life during the third quarter worth $32,000. True Wealth Design LLC purchased a new stake in shares of Globe Life during the third quarter valued at $59,000. Finally, Private Trust Co. NA grew its stake in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on GL shares. Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Piper Sandler upped their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.18.

Insider Buying and Selling

In other Globe Life 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 owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,788 shares of company stock worth $4,429,779. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $122.17 on Monday. The company has a fifty day simple moving average of $112.12 and a 200-day simple moving average of $105.93. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.34 and a beta of 0.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 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.