Kentucky Retirement Systems Lowers Stake in Globe Life Inc. (NYSE:GL)

Kentucky Retirement Systems lessened its holdings in Globe Life Inc. (NYSE:GL) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,172 shares of the company’s stock after selling 85 shares during the quarter. Kentucky Retirement Systems’ holdings in Globe Life were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GL. Versant Capital Management Inc grew its holdings in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares during the last quarter. Albion Financial Group UT bought a new stake in Globe Life in the 4th quarter worth $28,000. True Wealth Design LLC bought a new stake in Globe Life in the 3rd quarter worth $59,000. Private Trust Co. NA grew its holdings in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Globe Life in the 3rd quarter worth $73,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.1 %

Shares of NYSE GL opened at $122.66 on Tuesday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $129.18. The stock has a market cap of $10.30 billion, a P/E ratio of 10.26 and a beta of 0.81. The firm has a 50-day moving average of $116.85 and a 200 day moving average of $109.57. 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 (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated 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 transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,678 shares of company stock valued at $8,799,822. Insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Globe Life Company 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.