Globe Life Inc. (NYSE:GL) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Globe Life Inc. by 270.4%, owning 15,344 shares valued at approximately $2,021,000 following the purchase of 11,202 additional shares.
• CEO James Matthew Darden sold 33,270 shares of Globe Life, which represented a 40.03% decrease in his ownership stake, while another CEO, Frank M. Svoboda, also sold shares reducing their holding by 16.13%.
• Several analysts raised their price targets for Globe Life, with the average target now at $149.18, indicating positive sentiment toward the company's growth potential.

XTX Topco Ltd boosted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 270.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,344 shares of the company's stock after buying an additional 11,202 shares during the period. XTX Topco Ltd's holdings in Globe Life were worth $2,021,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new stake in Globe Life in the 1st quarter worth approximately $227,000. Federated Hermes Inc. grew its position in shares of Globe Life by 5.9% during the 1st quarter. Federated Hermes Inc. now owns 33,888 shares of the company's stock valued at $4,464,000 after acquiring an additional 1,881 shares during the period. LPL Financial LLC lifted its stake in shares of Globe Life by 6.6% during the 1st quarter. LPL Financial LLC now owns 310,535 shares of the company's stock valued at $40,904,000 after buying an additional 19,301 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Globe Life by 5.9% during the 1st quarter. Empirical Finance LLC now owns 3,231 shares of the company's stock valued at $426,000 after buying an additional 181 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in Globe Life in the 1st quarter worth $445,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Down 2.3%

Shares of Globe Life stock traded down $3.29 during trading hours on Friday, hitting $137.18. The company had a trading volume of 756,639 shares, compared to its average volume of 757,545. The company's 50-day moving average is $123.36 and its two-hundred day moving average is $122.92. Globe Life Inc. has a twelve month low of $86.10 and a twelve month high of $144.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $11.32 billion, a P/E ratio of 10.97 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.55%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. Analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the transaction, the chief financial officer owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,741 shares of company stock worth $11,097,080 in the last 90 days. Company insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GL. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a report on Wednesday. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $149.18.

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.