Tidal Investments LLC Sells 3,016 Shares of Globe Life Inc. (NYSE:GL)

Tidal Investments LLC reduced its position in shares of Globe Life Inc. (NYSE:GL) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,511 shares of the company’s stock after selling 3,016 shares during the period. Tidal Investments LLC’s holdings in Globe Life were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Globe Life by 12.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,638 shares of the company’s stock valued at $875,000 after buying an additional 1,206 shares during the last quarter. Blue Trust Inc. increased its position in Globe Life by 249.5% during the 2nd 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 period. Raymond James Financial Services Advisors Inc. raised its holdings in Globe Life by 15.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 195,089 shares of the company’s stock worth $16,052,000 after purchasing an additional 25,562 shares during the last quarter. Fifth Third Bancorp raised its holdings in Globe Life by 48.7% during the 2nd quarter. Fifth Third Bancorp now owns 5,049 shares of the company’s stock worth $415,000 after purchasing an additional 1,654 shares during the last quarter. Finally, &PARTNERS acquired a new position in shares of Globe Life in the 2nd quarter worth approximately $311,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Trading Up 1.4 %

NYSE GL opened at $105.91 on Friday. 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 Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The business has a 50 day moving average price of $108.09 and a 200-day moving average price of $98.63. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 8.96 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Globe Life’s payout ratio is 8.12%.

Analyst Upgrades and Downgrades

GL has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Morgan Stanley upped their target price 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. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.10.

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.