Heartland Bank & Trust Co Sells 129 Shares of Globe Life Inc. (NYSE:GL)

Heartland Bank & Trust Co lowered its position in Globe Life Inc. (NYSE:GL) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,369 shares of the company’s stock after selling 129 shares during the period. Heartland Bank & Trust Co’s holdings in Globe Life were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new position in Globe Life during the 3rd quarter valued at approximately $32,000. Keener Financial Planning LLC bought a new position in Globe Life during the 1st quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. increased its position in Globe Life by 88.4% during 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 in the last quarter. LRI Investments LLC increased its position in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares in the last quarter. Finally, Family Firm Inc. bought a new position in Globe Life during the 2nd quarter valued at approximately $54,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Down 0.2 %

Shares of GL stock opened at $110.86 on Thursday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month 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 0.31. The stock’s 50-day moving average price is $104.94 and its 200-day moving average price is $90.77. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 10.59 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Globe Life’s payout ratio is 9.17%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GL. Piper Sandler lifted their target price on Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Evercore ISI raised their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.40.

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.51% of the stock is owned by company insiders.

About Globe Life

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.