New York State Common Retirement Fund Decreases Holdings in Globe Life Inc. (NYSE:GL)

New York State Common Retirement Fund reduced its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 11.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,065 shares of the company's stock after selling 32,499 shares during the quarter. New York State Common Retirement Fund owned approximately 0.26% of Globe Life worth $30,316,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GL. Private Trust Co. NA boosted its holdings in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company's stock valued at $27,000 after buying an additional 162 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock valued at $29,000 after buying an additional 92 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Globe Life in the 3rd quarter valued at approximately $61,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $63,000. 81.61% of the stock is owned by institutional investors.

Insider Transactions at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company's stock, valued at $790,006. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director David A. Rodriguez acquired 1,500 shares of the business's stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. Company insiders own 1.51% of the company's stock.

Globe Life Price Performance

Globe Life stock traded up $0.21 during midday trading on Friday, reaching $75.75. The company's stock had a trading volume of 5,941,492 shares, compared to its average volume of 2,131,511. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $106.65 and a 200-day moving average price of $115.29. The stock has a market cap of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The business's revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Globe Life Inc. will post 11.68 EPS for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This is a boost from Globe Life's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life's payout ratio is 9.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday. Truist Financial cut their price target on Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday. Piper Sandler cut their price target on Globe Life from $130.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Globe Life from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods raised Globe Life from a "market perform" rating to an "outperform" rating and cut their price target for the company from $130.00 to $110.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.33.

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.