Globe Life Inc. (NYSE:GL) Position Increased by Truist Financial Corp

Truist Financial Corp increased its stake in Globe Life Inc. (NYSE:GL) by 44.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,921 shares of the company’s stock after purchasing an additional 15,719 shares during the period. Truist Financial Corp owned 0.06% of Globe Life worth $5,679,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GL. Versant Capital Management Inc lifted its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Albion Financial Group UT bought a new stake in Globe Life during the 4th quarter valued at $28,000. True Wealth Design LLC bought a new stake in Globe Life during the 3rd quarter valued at $59,000. Private Trust Co. NA raised its stake in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after acquiring an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Globe Life during the 3rd quarter valued at $73,000. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,678 shares of company stock worth $8,799,822 in the last three months. 1.51% of the stock is currently owned by insiders.

Globe Life Stock Performance

Shares of NYSE GL opened at $122.52 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 10.25 and a beta of 0.81. The stock’s fifty day simple moving average is $116.53 and its 200 day simple moving average is $109.21. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on GL. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted 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, February 11th. Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Jefferies Financial Group boosted their price objective 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.50.

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.