Kentucky Retirement Systems Decreases Stock Holdings in Globe Life Inc. (NYSE:GL)

Kentucky Retirement Systems trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 6,172 shares of the company’s stock after selling 85 shares during the period. Kentucky Retirement Systems’ holdings in Globe Life were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ieq Capital LLC grew its position in Globe Life by 102.8% during the fourth quarter. Ieq Capital LLC now owns 36,927 shares of the company’s stock valued at $4,118,000 after buying an additional 18,720 shares during the period. New York State Common Retirement Fund grew its position in Globe Life by 13.0% during the fourth quarter. New York State Common Retirement Fund now owns 156,508 shares of the company’s stock valued at $17,454,000 after buying an additional 18,033 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Globe Life during the fourth quarter valued at approximately $903,000. Truist Financial Corp grew its position in Globe Life by 44.7% during the fourth quarter. Truist Financial Corp now owns 50,921 shares of the company’s stock valued at $5,679,000 after buying an additional 15,719 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in Globe Life by 2.4% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after buying an additional 100 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of several recent research reports. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Wells Fargo & Company upped their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upped their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.50.

Globe Life Price Performance

Shares of NYSE:GL opened at $122.66 on Tuesday. 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 firm has a fifty day moving average price of $116.85 and a 200 day moving average price of $109.57. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $129.18. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 10.26 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is owned by insiders.

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.