Smith Thornton Advisors LLC Sells 5,000 Shares of Globe Life Inc. (NYSE:GL)

Smith Thornton Advisors LLC lowered its stake in Globe Life Inc. (NYSE:GL) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,664 shares of the company’s stock after selling 5,000 shares during the quarter. Globe Life makes up approximately 1.9% of Smith Thornton Advisors LLC’s investment portfolio, making the stock its 11th largest position. Smith Thornton Advisors LLC’s holdings in Globe Life were worth $2,930,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GL. D. E. Shaw & Co. Inc. boosted its stake in shares of Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after acquiring an additional 822,638 shares during the last quarter. Millennium Management LLC grew its holdings in Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares during the period. Pzena Investment Management LLC grew its stake in Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after purchasing an additional 552,634 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Down 2.2 %

GL opened at $108.60 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $106.39 and its 200 day simple moving average is $93.14. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $9.75 billion, a PE ratio of 9.19 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.58% and a net margin of 19.04%. Globe Life’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 earnings per share. As a group, research analysts expect that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

GL has been the topic of a number of research reports. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.