BancFirst Trust & Investment Management Sells 3,000 Shares of Globe Life Inc. (NYSE:GL)

BancFirst Trust & Investment Management trimmed its position in Globe Life Inc. (NYSE:GL) by 34.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,593 shares of the company’s stock after selling 3,000 shares during the period. Globe Life comprises approximately 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Globe Life in the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. True Wealth Design LLC acquired a new stake in Globe Life during the 3rd quarter worth approximately $59,000. Quarry LP lifted its stake in Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after buying an additional 270 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

Globe Life Trading Up 0.5 %

Shares of Globe Life stock traded up $0.59 on Thursday, hitting $112.11. 230,328 shares of the company’s stock traded hands, compared to its average volume of 1,435,554. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a fifty day moving average of $108.18 and a two-hundred day moving average of $100.60. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81.

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. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s payout ratio is 8.12%.

Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Truist Financial lifted their price objective 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. Morgan Stanley upped their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.10.

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.