Globe Life Inc. (NYSE:GL) Stake Lowered by First National Bank of Hutchinson

First National Bank of Hutchinson lessened its stake in Globe Life Inc. (NYSE:GL - Free Report) by 72.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,146 shares of the company's stock after selling 10,763 shares during the period. First National Bank of Hutchinson's holdings in Globe Life were worth $546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its holdings in Globe Life by 44.8% in the fourth quarter. Teacher Retirement System of Texas now owns 58,309 shares of the company's stock worth $6,503,000 after purchasing an additional 18,043 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Globe Life by 115.4% in the 4th quarter. Quantbot Technologies LP now owns 19,809 shares of the company's stock valued at $2,209,000 after buying an additional 10,611 shares during the period. American Century Companies Inc. boosted its holdings in shares of Globe Life by 33.2% in the 4th quarter. American Century Companies Inc. now owns 144,815 shares of the company's stock valued at $16,150,000 after buying an additional 36,113 shares during the period. Sei Investments Co. grew its position in shares of Globe Life by 1.0% during the 4th quarter. Sei Investments Co. now owns 21,248 shares of the company's stock valued at $2,370,000 after buying an additional 206 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Globe Life during the fourth quarter worth about $820,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Piper Sandler lowered their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of Globe Life from $139.00 to $144.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley set a $127.00 price objective on shares of Globe Life and gave the stock an "equal weight" rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.82.

Globe Life Price Performance

Shares of GL stock traded up $6.61 during mid-day trading on Thursday, hitting $131.42. 1,533,382 shares of the stock traded hands, compared to its average volume of 596,325. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 9.62 and a beta of 0.56. The company's 50-day simple moving average is $121.24 and its 200-day simple moving average is $121.87. Globe Life Inc. has a twelve month low of $86.10 and a twelve month high of $133.76.

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

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the transaction, the chief executive officer directly owned 31,298 shares in the company, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.