Globe Life Inc. (NYSE:GL) Stock Holdings Trimmed by ING Groep NV

ING Groep NV reduced its position in Globe Life Inc. (NYSE:GL) by 16.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,794 shares of the company’s stock after selling 733 shares during the period. ING Groep NV’s holdings in Globe Life were worth $423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GL. Blue Trust Inc. increased its holdings in Globe Life by 29.6% in the third quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock valued at $107,000 after buying an additional 230 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Globe Life during the third quarter valued at approximately $276,000. Private Advisor Group LLC bought a new position in shares of Globe Life during the third quarter valued at approximately $262,000. Ballentine Partners LLC grew its holdings in shares of Globe Life by 7.7% during the third quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock valued at $284,000 after purchasing an additional 191 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Globe Life by 6.3% during the third quarter. Louisiana State Employees Retirement System now owns 5,100 shares of the company’s stock valued at $540,000 after purchasing an additional 300 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Jefferies Financial Group boosted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average price target of $135.50.

Insider Activity

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, 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. In the last 90 days, insiders sold 75,678 shares of company stock worth $8,799,822. Insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

GL opened at $122.66 on Tuesday. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 10.26 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $129.18. The business has a 50 day moving average price of $116.85 and a two-hundred day moving average price of $109.57.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating analysts’ consensus estimates 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 predict that Globe Life Inc. will post 13.87 EPS for the current fiscal 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.