Globe Life Inc. (NYSE:GL) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in Globe Life Inc. (NYSE:GL) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GL. Keener Financial Planning LLC acquired a new stake in Globe Life in the 1st quarter valued at approximately $49,000. LRI Investments LLC increased its holdings in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the period. Principal Securities Inc. acquired a new position in shares of Globe Life during the fourth quarter valued at $52,000. Family Firm Inc. bought a new stake in shares of Globe Life during the second quarter valued at about $54,000. Finally, Blue Trust Inc. lifted its holdings in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

GL stock opened at $106.26 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm has a 50-day moving average of $97.02 and a two-hundred day moving average of $92.35. The firm has a market capitalization of $9.57 billion, a PE ratio of 10.15 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

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

Globe Life Dividend Announcement

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

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 price target (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Morgan Stanley upped their target price on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group lifted their price target on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Evercore ISI upped their price objective on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Finally, Piper Sandler boosted their price target on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $108.33.

About Globe Life

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.