Louisiana State Employees Retirement System Sells 600 Shares of Globe Life Inc. (NYSE:GL)

Louisiana State Employees Retirement System reduced its holdings in shares of Globe Life Inc. (NYSE:GL) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Globe Life were worth $502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT purchased a new stake in shares of Globe Life during the fourth quarter valued at approximately $28,000. True Wealth Design LLC purchased a new stake in shares of Globe Life during the third quarter valued at approximately $59,000. Private Trust Co. NA boosted its stake in shares of Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Globe Life during the third quarter valued at approximately $73,000. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on GL shares. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Five 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.10.

Globe Life Price Performance

Shares of NYSE:GL opened at $123.86 on Wednesday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business has a fifty day moving average price of $115.42 and a 200-day moving average price of $108.62. The company has a market capitalization of $10.40 billion, a PE ratio of 10.36 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 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities analysts expect that Globe Life Inc. will post 13.57 EPS for the current fiscal year.

Insider Activity

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock worth $8,799,822 over the last three months. 1.51% of the stock is currently owned by corporate insiders.

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.