Fmr LLC Has $49.44 Million Stock Position in Globe Life Inc. (NYSE:GL)

Fmr LLC cut its position in Globe Life Inc. (NYSE:GL) by 45.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466,826 shares of the company’s stock after selling 383,540 shares during the period. Fmr LLC owned 0.56% of Globe Life worth $49,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GL. Riverview Trust Co purchased a new position in Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC grew its position in Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares during the period. Family Firm Inc. purchased a new stake in Globe Life during the second quarter worth about $54,000. Finally, Blue Trust Inc. lifted its stake in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after purchasing an additional 554 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Down 1.7 %

Shares of GL opened at $104.76 on Friday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a market capitalization of $8.79 billion, a P/E ratio of 8.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s 50 day simple moving average is $108.13 and its 200 day simple moving average is $97.33.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 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 firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast 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. Stockholders of record on Monday, January 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

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 value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent research reports. Raymond James lifted their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial increased their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Piper Sandler upped their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Five research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.50.

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.