Janney Montgomery Scott LLC Reduces Holdings in Globe Life Inc. (NYSE:GL) by 542 Shares

2 min read | February 03, 2025 12:58 AM PST | By Team Kalkine Media

Janney Montgomery Scott LLC Reduces Holdings in Globe Life Inc. (NYSE:GL) by 542 Shares — Image source: Shutterstock

Investment Shifts in Globe Life Inc. (NYSE:GL)

Recent regulatory filings reveal that Janney Montgomery Scott LLC has lowered its holdings in Globe Life Inc. by 2.9% during the fourth quarter. By the end of the reporting period, the fund owned 18,381 shares valued at approximately $2,050,000, after divesting 542 shares. Other hedge funds have also been active in modifying their stakes, with notable increases by Versant Capital Management Inc. and the acquisition of new stakes by Albion Financial Group UT, Riverview Trust Co, and True Wealth Design LLC.

Expert Evaluations and Price Targets

Market Experts have been revising their price targets and ratings for Globe Life shares. Jefferies Financial Group increased its target price from $107.00 to $114.00, maintaining a hold rating, while Keefe, Bruyette & Woods elevated their price objective from $135.00 to $137.00 with an outperform rating. Similarly, Raymond James and Piper Sandler have adjusted their price objectives and provided strong buy and overweight ratings, respectively.

Insider Transactions and Financial Performance

In recent developments, Globe Life's CEO Frank M. Svoboda sold 14,340 shares valued at $1,560,192.00, decreasing his ownership by 46.66%. Additionally, Director Mark A. Blinn sold 3,000 shares for $339,690.00, marking a 36.94% reduction in his stake. Over the past ninety days, insiders have sold 39,788 shares worth $4,429,779, with insiders holding a 1.51% stake in the company.

Globe Life's Market Standing and Dividend Information

Globe Life shares opened at $122.17 on the latest trading day. The company presents a market capitalization of $10.26 billion with a P/E ratio of 10.34 and a beta of 0.80. Recently, Globe Life announced a quarterly dividend of $0.24 per share, representing an annual yield of 0.79% with a dividend payout ratio standing at 8.12%. Shares have traded between a 52-week low of $38.95 and a high of $132.00.

Company Overview

Globe Life Inc. is a prominent provider of life and supplemental health insurance products, alongside annuities targeted at lower middle- and middle-income families across the United States. Operating through four main segments—Life Insurance, Supplemental Health Insurance, Annuities, and Investments—Globe Life holds a stable position in its industry.

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