BancFirst Trust & Investment Management Cuts Stock Holdings in Globe Life Inc. (NYSE:GL)

BancFirst Trust & Investment Management lessened its stake in Globe Life Inc. (NYSE:GL) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,593 shares of the company’s stock after selling 3,000 shares during the period. Globe Life comprises about 0.3% of BancFirst Trust & Investment Management’s holdings, making the stock its 26th largest holding. BancFirst Trust & Investment Management’s holdings in Globe Life were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GL. State Street Corp boosted its holdings in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after purchasing an additional 277,108 shares during the period. Millennium Management LLC boosted its stake in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares during the last quarter. Finally, Nuance Investments LLC increased its position in Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. TD Cowen began coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $127.10.

Globe Life Trading Up 0.5 %

GL traded up $0.59 during trading hours on Thursday, reaching $112.11. 230,328 shares of the company’s stock traded hands, compared to its average volume of 1,435,554. The firm has a market capitalization of $9.41 billion, a PE ratio of 9.48 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The firm has a 50-day moving average price of $108.18 and a 200 day moving average price of $100.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its 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. The company 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%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.51% of the company’s stock.

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.