Globe Life Inc. (NYSE:GL) Stock Holdings Lifted by Truist Financial Corp

Truist Financial Corp raised its position in Globe Life Inc. (NYSE:GL) by 44.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,921 shares of the company’s stock after purchasing an additional 15,719 shares during the quarter. Truist Financial Corp’s holdings in Globe Life were worth $5,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GL. Versant Capital Management Inc grew its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT purchased a new position in Globe Life in the fourth quarter valued at about $28,000. True Wealth Design LLC purchased a new position in Globe Life in the third quarter valued at about $59,000. Private Trust Co. NA grew its stake in 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 purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in Globe Life in the third quarter valued at about $73,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’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 transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at $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 SEC, which is available at this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,678 shares of company stock worth $8,799,822 over the last three months. Company insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

GL has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.50.

Globe Life Price Performance

NYSE GL opened at $122.52 on Friday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81. The stock has a 50-day simple moving average of $116.53 and a 200 day simple moving average of $109.21.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

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.