Kentucky Retirement Systems Sells 177 Shares of Globe Life Inc. (NYSE:GL)

Kentucky Retirement Systems lessened its holdings in shares of Globe Life Inc. (NYSE:GL) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,327 shares of the company’s stock after selling 177 shares during the quarter. Kentucky Retirement Systems’ holdings in Globe Life were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GL. Vanguard Group Inc. boosted its stake in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Globe Life by 7.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after purchasing an additional 7,100 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Globe Life by 69.2% in the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after purchasing an additional 15,862 shares during the period. Savant Capital LLC lifted its stake in shares of Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after buying an additional 17,878 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Performance

NYSE GL opened at $106.26 on Friday. The stock has a market cap of $9.57 billion, a P/E ratio of 10.15 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company’s 50-day simple moving average is $97.02 and its 200 day simple moving average is $92.35.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 EPS. As a group, research analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life’s payout ratio is presently 9.17%.

Insider Activity

In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Finally, Piper Sandler increased their price target on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.

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.