Universal Beteiligungs und Servicegesellschaft mbH Trims Position in Globe Life Inc. (NYSE:GL)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its holdings in Globe Life Inc. by 10.4%, now owning 67,395 shares worth approximately $8.88 million.
• Several large investors, including Principal Financial Group Inc., boosted their positions in Globe Life, contributing to institutional ownership rising to 81.61%.
• Globe Life reported earnings per share of $3.27 for the quarter, exceeding estimates, although revenue fell short of expectations at $1.48 billion.

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,395 shares of the company's stock after selling 7,788 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Globe Life worth $8,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after purchasing an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in Globe Life during the first quarter valued at $493,000. Sequoia Financial Advisors LLC raised its stake in Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after purchasing an additional 21,136 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after purchasing an additional 723 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after purchasing an additional 115,628 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Trading Up 4.6%

Shares of NYSE GL traded up $6.14 during mid-day trading on Tuesday, reaching $140.30. The company had a trading volume of 617,194 shares, compared to its average volume of 647,207. The business's 50-day moving average is $121.75 and its 200-day moving average is $122.30. 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 stock has a market cap of $11.58 billion, a price-to-earnings ratio of 11.23 and a beta of 0.56. Globe Life Inc. has a 52 week low of $86.10 and a 52 week high of $143.84.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion for 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 business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 earnings per share. Equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the company'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 transaction, the chief executive officer directly owned 31,298 shares in the company, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction dated Friday, July 25th. The stock was 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. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GL. Truist Financial began coverage on shares of Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target on the stock. Piper Sandler decreased their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday. Morgan Stanley increased their target price on shares of Globe Life from $127.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Three equities 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $146.00.

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.