TrueWealth Advisors LLC Trims Holdings in Globe Life Inc. (NYSE:GL)

TrueWealth Advisors LLC lowered its stake in shares of Globe Life Inc. (NYSE:GL) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,706 shares of the company’s stock after selling 435 shares during the period. TrueWealth Advisors LLC’s holdings in Globe Life were worth $1,417,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GL. Merit Financial Group LLC purchased a new stake in shares of Globe Life in the 4th quarter valued at approximately $487,000. Kathmere Capital Management LLC purchased a new position in Globe Life in the fourth quarter worth approximately $217,000. Harbour Capital Advisors LLC acquired a new stake in Globe Life during the fourth quarter worth $244,000. Wealth Enhancement Advisory Services LLC increased its stake in Globe Life by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after acquiring an additional 144 shares during the last quarter. Finally, Diversified Trust Co purchased a new stake in Globe Life in the fourth quarter valued at $356,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Up 1.0 %

Shares of NYSE:GL opened at $118.47 on Friday. The company has a market cap of $9.94 billion, a PE ratio of 10.02 and a beta of 0.80. The company’s 50 day moving average is $109.90 and its two-hundred day moving average is $103.11. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. 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 (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 earnings per share. Equities analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.81%. The ex-dividend date is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 over the last 90 days. 1.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $134.00.

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.