Haverford Trust Co Trims Holdings in Globe Life Inc. (NYSE:GL)

Haverford Trust Co trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,770 shares of the company’s stock after selling 437 shares during the quarter. Haverford Trust Co’s holdings in Globe Life were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Globe Life in the third quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. lifted its stake in Globe Life by 88.4% in 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. LRI Investments LLC bought a new position in Globe Life in the 1st quarter valued at $72,000. Family Firm Inc. purchased a new position in shares of Globe Life during the 2nd quarter valued at $54,000. Finally, Intact Investment Management Inc. bought a new position in shares of Globe Life in the third quarter worth $73,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE:GL opened at $108.97 on Friday. 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 50 day moving average price of $106.83 and a 200-day moving average price of $94.36. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 9.22 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The company 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 22.91% and a net margin of 19.04%. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 EPS. Equities research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GL shares. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, 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. Five investment 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 data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.