GHP Investment Advisors Inc. Trims Stake in Globe Life Inc. (NYSE:GL)

GHP Investment Advisors Inc. lessened its holdings in Globe Life Inc. (NYSE:GL) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,401 shares of the company’s stock after selling 1,788 shares during the period. GHP Investment Advisors Inc.’s holdings in Globe Life were worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position 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 during the last quarter. Albion Financial Group UT acquired a new position in shares of Globe Life in the 4th quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Globe Life during the 3rd quarter worth approximately $32,000. True Wealth Design LLC acquired a new stake in Globe Life in the 3rd quarter valued at approximately $59,000. Finally, Private Trust Co. NA raised its position in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of Globe Life 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 sale, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GL shares. Evercore ISI upgraded 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 research report on Wednesday, January 8th. Piper Sandler lifted 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. Wells Fargo & Company boosted their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial raised their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Raymond James upped 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. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $132.18.

Globe Life Stock Performance

Shares of GL stock opened at $119.97 on Friday. The company has a market cap of $10.07 billion, a P/E ratio of 10.15 and a beta of 0.81. The firm has a fifty day moving average price of $112.95 and a 200 day moving average price of $106.62. 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 Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

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 return on equity of 22.91% and a net margin of 19.04%. Sell-side analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. Globe Life’s payout ratio is currently 8.12%.

Globe Life Company 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.