Sheaff Brock Investment Advisors LLC Has $5.78 Million Stock Position in Globe Life Inc. (NYSE:GL)

Sheaff Brock Investment Advisors LLC cut its position in Globe Life Inc. (NYSE:GL) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,584 shares of the company’s stock after selling 2,100 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Globe Life were worth $5,781,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Globe Life in the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the period. LRI Investments LLC bought a new position in shares of Globe Life during the 1st quarter valued at about $72,000. Family Firm Inc. bought a new stake in shares of Globe Life during the second quarter worth $54,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Globe Life in the third quarter valued at about $73,000. 81.61% of the stock is owned by institutional investors.

Globe Life Price Performance

Globe Life stock opened at $108.97 on Friday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 9.22 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 Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The stock’s 50 day moving average is $106.83 and its 200-day moving average is $94.36.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that Globe Life Inc. will post 12.32 EPS for the current year.

Wall Street Analysts Forecast Growth

GL has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Morgan Stanley raised their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life 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.