Globe Life Inc. (NYSE:GL) Position Cut by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC decreased its holdings in Globe Life Inc. (NYSE:GL) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,584 shares of the company’s stock after selling 2,100 shares during the quarter. Sheaff Brock Investment Advisors LLC owned 0.06% of Globe Life worth $5,781,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Globe Life in the third quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC raised its holdings in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after buying an additional 557 shares during the period. Family Firm Inc. purchased a new stake in Globe Life during the second quarter valued at about $54,000. Finally, Blue Trust Inc. raised its holdings in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after acquiring an additional 554 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

NYSE GL opened at $108.97 on Friday. The company’s fifty day moving average is $106.83 and its two-hundred day moving average is $94.36. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 9.22 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company posted $2.71 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GL. Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial upped 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. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Five 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. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target 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.