Globe Life Inc. (NYSE:GL) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Globe Life Inc. (NYSE:GL) by 719.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,225 shares of the company’s stock after purchasing an additional 21,269 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Globe Life were worth $2,702,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares during the last quarter. Geode Capital Management LLC lifted its stake in Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after buying an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after buying an additional 277,108 shares during the last quarter. Nuance Investments LLC lifted its stake in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Globe Life by 8.4% in the third quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after buying an additional 78,354 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of recent research reports. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Morgan Stanley raised their target price on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group lifted 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. Five investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.10.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,678 shares of company stock worth $7,454,412. 1.51% of the stock is owned by corporate insiders.

Globe Life Price Performance

Shares of Globe Life stock opened at $123.58 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $114.32 and its two-hundred day moving average price is $107.77. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $10.37 billion, a PE ratio of 10.34 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate 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 anticipate that Globe Life Inc. will post 13.57 EPS for the current fiscal year.

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.