New York State Common Retirement Fund Purchases 18,033 Shares of Globe Life Inc. (NYSE:GL)

New York State Common Retirement Fund lifted its position in shares of Globe Life Inc. (NYSE:GL) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,508 shares of the company’s stock after acquiring an additional 18,033 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of Globe Life worth $17,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Globe Life by 388.0% in the fourth 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 purchased a new stake in Globe Life in the fourth quarter worth approximately $28,000. True Wealth Design LLC purchased a new stake in Globe Life in the third quarter worth approximately $59,000. Private Trust Co. NA boosted its holdings in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after purchasing an additional 270 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in Globe Life in the third quarter worth approximately $73,000. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GL. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.50.

Globe Life Stock Performance

Globe Life stock opened at $122.52 on Friday. The company’s 50-day moving average price is $116.53 and its 200-day moving average price is $109.21. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. 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 company has a market cap of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Insider Transactions at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. Company insiders own 1.51% of the company’s stock.

Globe Life 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.