Truist Financial Corp decreased its holdings in shares of Globe Life Inc. (NYSE:GL – Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,134 shares of the company’s stock after selling 61,232 shares during the quarter. Truist Financial Corp owned about 0.21% of Globe Life worth $22,789,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of GL. JPMorgan Chase & Co. grew its stake in shares of Globe Life by 7.2% in the first quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Globe Life by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock worth $1,464,000 after purchasing an additional 538 shares in the last quarter. American Century Companies Inc. grew its stake in Globe Life by 26.8% during the 1st quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after purchasing an additional 2,848 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in Globe Life by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock worth $477,000 after purchasing an additional 137 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Globe Life by 23.9% during the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock worth $2,557,000 after purchasing an additional 4,897 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
Globe Life Stock Up 1.6 %
GL opened at $115.36 on Tuesday. The business has a 50 day moving average price of $109.86 and a two-hundred day moving average price of $111.68. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.42. The company has a market cap of $11.02 billion, a PE ratio of 13.48 and a beta of 0.79. Globe Life Inc. has a 52 week low of $96.23 and a 52 week high of $123.85.
Globe Life Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Wednesday, July 5th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 0.78%. The ex-dividend date was Monday, July 3rd. Globe Life’s payout ratio is 10.51%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Piper Sandler lifted their price target on Globe Life from $130.00 to $131.00 in a report on Friday, July 28th. StockNews.com assumed coverage on Globe Life in a report on Thursday, May 18th. They set a “hold” rating for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $131.00 price target on shares of Globe Life in a report on Wednesday, August 2nd. Finally, Wells Fargo & Company assumed coverage on Globe Life in a report on Tuesday, April 25th. They issued an “equal weight” rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.14.
Read Our Latest Report on Globe Life
Insiders Place Their Bets
In related news, CAO Michael Shane Henrie sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $112.06, for a total value of $112,060.00. Following the sale, the chief accounting officer now owns 700 shares in the company, valued at approximately $78,442. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Globe Life news, CAO Michael Shane Henrie sold 1,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $112.06, for a total transaction of $112,060.00. Following the transaction, the chief accounting officer now owns 700 shares of the company’s stock, valued at approximately $78,442. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cheryl Alston sold 16,691 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $108.81, for a total value of $1,816,147.71. Following the completion of the transaction, the director now directly owns 6,238 shares in the company, valued at $678,756.78. The disclosure for this sale can be found here. 4.33% of the stock is currently owned by insiders.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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