Hussman Strategic Advisors Inc. Sells 21,000 Shares of Globe Life Inc. $GL

Hussman Strategic Advisors Inc. lowered its position in Globe Life Inc. (NYSE:GL) by 66.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,500 shares of the company’s stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Globe Life were worth $1,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its stake in Globe Life by 3.9% in the second quarter. Invesco Ltd. now owns 3,921,439 shares of the company’s stock worth $487,396,000 after purchasing an additional 147,644 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Globe Life by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,722,768 shares of the company’s stock valued at $339,875,000 after buying an additional 76,995 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Globe Life by 98.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after buying an additional 696,548 shares during the period. Norges Bank bought a new position in shares of Globe Life in the 2nd quarter worth about $157,722,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Globe Life by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,025 shares of the company’s stock worth $155,117,000 after acquiring an additional 43,095 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity

In related news, CEO Frank M. Svoboda sold 9,379 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the sale, the chief executive officer directly owned 35,868 shares of the company’s stock, valued at $5,036,943.24. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Globe Life from $150.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Piper Sandler restated an “overweight” rating and issued a $167.00 price target on shares of Globe Life in a research note on Friday, November 21st. Wells Fargo & Company reduced their price objective on Globe Life from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Evercore ISI cut Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a research note on Tuesday, January 6th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.22.

Globe Life Price Performance

Shares of NYSE GL opened at $138.58 on Thursday. The firm has a market cap of $11.03 billion, a P/E ratio of 10.04 and a beta of 0.48. Globe Life Inc. has a twelve month low of $109.38 and a twelve month high of $147.83. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $137.98 and a 200 day moving average of $136.96.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, January 5th. Globe Life’s dividend payout ratio is presently 7.83%.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.