Globe Life Inc. (NYSE:GL) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in Globe Life Inc. by 57.9%, selling 5,910 shares and now owning 4,289 shares worth approximately $565,000.
• Globe Life's shares traded down 2.3% to $137.18, with a market capitalization of $11.32 billion and a PE ratio of 10.97.
• Insider selling included significant transactions by CFO Thomas Peter Kalmbach and CEO James Matthew Darden, reducing their positions by 48.56% and 40.03%, respectively.

Pacer Advisors Inc. cut its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 57.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,289 shares of the company's stock after selling 5,910 shares during the period. Pacer Advisors Inc.'s holdings in Globe Life were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. acquired a new position in shares of Globe Life during the 4th quarter worth about $68,000. Allworth Financial LP raised its position in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after purchasing an additional 342 shares during the last quarter. Blue Trust Inc. raised its position in shares of Globe Life by 42.4% during the 1st quarter. Blue Trust Inc. now owns 772 shares of the company's stock worth $102,000 after purchasing an additional 230 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Globe Life during the 4th quarter worth about $116,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler decreased their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Globe Life from $127.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.18.

Globe Life Stock Down 2.3%

Shares of NYSE GL traded down $3.29 during mid-day trading on Friday, reaching $137.18. The company had a trading volume of 756,639 shares, compared to its average volume of 757,545. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $123.36 and a two-hundred day simple moving average of $122.97. The stock has a market cap of $11.32 billion, a P/E ratio of 10.97 and a beta of 0.56. Globe Life Inc. has a 52-week low of $86.10 and a 52-week high of $144.00.

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

Insiders Place Their Bets

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of Globe Life stock in a transaction dated 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 sale, the chief executive officer directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,741 shares of company stock valued at $11,097,080. Insiders own 1.51% of the company's stock.

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.