Globe Life Inc. (NYSE:GL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Globe Life Inc. (NYSE:GL) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,059 shares of the company’s stock after selling 446 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Globe Life were worth $456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Globe Life during the fourth quarter worth about $28,000. True Wealth Design LLC acquired a new stake in shares of Globe Life during the third quarter worth about $59,000. Private Trust Co. NA increased its position in shares of Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of Globe Life during the third quarter worth about $73,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $135.50.

Globe Life Price Performance

Shares of GL opened at $122.66 on Tuesday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $129.18. The stock’s 50 day moving average is $116.85 and its two-hundred day moving average is $109.57. The firm has a market capitalization of $10.30 billion, a PE ratio of 10.26 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Insider Buying and Selling at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is owned by corporate insiders.

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.