KBC Group NV Sells 12,502 Shares of Globe Life Inc. (NYSE:GL)

KBC Group NV trimmed its stake in Globe Life Inc. (NYSE:GL - Free Report) by 78.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,380 shares of the company's stock after selling 12,502 shares during the period. KBC Group NV's holdings in Globe Life were worth $445,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. lifted its holdings in shares of Globe Life by 18.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 784 shares of the company's stock worth $87,000 after acquiring an additional 124 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Globe Life by 685.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,209 shares of the company's stock worth $135,000 after acquiring an additional 1,055 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after acquiring an additional 9,395 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Globe Life by 12.2% during the 4th quarter. M&T Bank Corp now owns 20,769 shares of the company's stock worth $2,316,000 after acquiring an additional 2,257 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Globe Life by 3,157.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company's stock worth $69,000 after acquiring an additional 600 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 0.8%

NYSE:GL opened at $121.20 on Friday. Globe Life Inc. has a one year low of $80.36 and a one year high of $133.76. 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 $10.00 billion, a P/E ratio of 9.86 and a beta of 0.56. The firm has a 50-day simple moving average of $121.21 and a 200-day simple moving average of $120.77.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.78 EPS. Equities analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GL shares. Piper Sandler decreased their price target 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. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley upped their target price on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company dropped their target price on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.73.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer owned 31,298 shares in the company, valued at $3,834,317.98. The trade was a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.

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