Sheaff Brock Investment Advisors LLC Reduces Stock Position in Globe Life Inc. (NYSE:GL)

Sheaff Brock Investment Advisors LLC cut its position in Globe Life Inc. (NYSE:GL) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,184 shares of the company’s stock after selling 400 shares during the period. Sheaff Brock Investment Advisors LLC owned approximately 0.06% of Globe Life worth $6,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GL. Versant Capital Management Inc raised its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Globe Life in the fourth quarter worth $28,000. Riverview Trust Co purchased a new position in shares of Globe Life during the third quarter worth $32,000. True Wealth Design LLC acquired a new position in Globe Life during the third quarter valued at $59,000. Finally, Private Trust Co. NA boosted its holdings 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 last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Globe Life Stock Performance

GL opened at $121.80 on Friday. The firm’s fifty day simple moving average is $114.66 and its two-hundred day simple moving average is $108.08. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 10.19 and a beta of 0.81. 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 (NYSE:GL) last issued its quarterly earnings results 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 net margin of 18.53% and a return on equity of 22.32%. Equities analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,678 shares of company stock worth $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.