Globe Life Inc. (NYSE:GL) Shares Sold by BancFirst Trust & Investment Management

BancFirst Trust & Investment Management lessened its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 50.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,793 shares of the company's stock after selling 2,800 shares during the period. Globe Life comprises approximately 0.2% of BancFirst Trust & Investment Management's investment portfolio, making the stock its 25th biggest position. BancFirst Trust & Investment Management's holdings in Globe Life were worth $362,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Globe Life in the 4th quarter valued at about $61,238,000. Lighthouse Investment Partners LLC boosted its holdings in shares of Globe Life by 914.9% in the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after purchasing an additional 115,628 shares during the period. Prudential Financial Inc. grew its holdings in Globe Life by 50.0% during the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock worth $9,069,000 after acquiring an additional 27,590 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock valued at $2,751,000 after purchasing an additional 9,395 shares during the period. Finally, ExodusPoint Capital Management LP raised its holdings in shares of Globe Life by 76.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 91,682 shares of the company's stock valued at $10,224,000 after purchasing an additional 39,678 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.51% of the company's stock.

Globe Life Stock Performance

NYSE GL traded down $0.58 on Tuesday, reaching $120.08. 417,989 shares of the company's stock traded hands, compared to its average volume of 762,839. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 10.05 and a beta of 0.56. The stock has a 50 day moving average price of $120.79 and a 200-day moving average price of $119.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the firm earned $2.78 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

GL has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price target on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.73.

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.