Rhumbline Advisers Sells 8,786 Shares of Globe Life Inc. (NYSE:GL)

Rhumbline Advisers lessened its position in shares of Globe Life Inc. (NYSE:GL) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,487 shares of the company’s stock after selling 8,786 shares during the quarter. Rhumbline Advisers owned about 0.24% of Globe Life worth $22,358,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in Globe Life by 388.0% during 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 in the last quarter. Albion Financial Group UT acquired a new position in Globe Life during the 4th quarter valued at approximately $28,000. True Wealth Design LLC acquired a new position in Globe Life during the 3rd quarter valued at approximately $59,000. Private Trust Co. NA increased its stake in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in Globe Life during the 3rd quarter valued at approximately $73,000. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GL shares. BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Jefferies Financial Group upped their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Piper Sandler increased 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. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.50.

Insider Activity

In other news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction 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 directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares in the company, valued at $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 quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Performance

GL opened at $124.24 on Friday. 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 company has a market cap of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The firm’s fifty day simple moving average is $116.19 and its two-hundred day simple moving average is $108.83.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts anticipate that Globe Life Inc. will post 13.86 earnings per share for the current fiscal year.

About Globe Life

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.