Teacher Retirement System of Texas Has $4.60 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Teacher Retirement System of Texas cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,903 shares of the company's stock after selling 23,406 shares during the period. Teacher Retirement System of Texas' holdings in Globe Life were worth $4,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GL. Rakuten Securities Inc. bought a new stake in Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co bought a new position in Globe Life in the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in Globe Life during the fourth quarter valued at about $45,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in Globe Life in the 4th quarter valued at approximately $68,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 0.0%

Globe Life stock opened at $121.17 on Tuesday. 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 market cap of $10.00 billion, a price-to-earnings ratio of 9.86 and a beta of 0.56. The stock has a fifty day simple moving average of $121.16 and a two-hundred day simple moving average of $121.07. Globe Life Inc. has a 12 month low of $80.36 and a 12 month high of $133.76.

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

Globe Life Announces Dividend

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

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction 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 transaction, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.97% of the company's stock.

Analysts Set New Price Targets

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

About Globe Life

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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