Globe Life Inc. (NYSE:GL) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of Globe Life Inc. (NYSE:GL) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,508 shares of the company’s stock after acquiring an additional 18,033 shares during the period. New York State Common Retirement Fund’s holdings in Globe Life were worth $17,454,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GL. State Street Corp increased its holdings in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Principal Financial Group Inc. increased its stake in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after buying an additional 8,663 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Globe Life during the 4th quarter worth $487,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Globe Life by 85.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Globe Life by 56.0% during the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,662 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $135.50.

Insider Activity at Globe Life

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is owned by corporate insiders.

Globe Life Price Performance

Shares of NYSE GL opened at $122.52 on Friday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s 50-day simple moving average is $116.53 and its 200 day simple moving average is $109.21. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.28 billion, a P/E ratio of 10.25 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts expect 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.