Truist Financial Corp Sells 18,062 Shares of Globe Life Inc. (NYSE:GL)

Truist Financial Corp reduced its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 167,550 shares of the company's stock after selling 18,062 shares during the quarter. Truist Financial Corp owned approximately 0.18% of Globe Life worth $20,394,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company's stock worth $1,183,175,000 after buying an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company's stock valued at $461,884,000 after purchasing an additional 168,127 shares during the period. Cooke & Bieler LP increased its stake in shares of Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company's stock valued at $286,996,000 after purchasing an additional 45,227 shares during the period. Invesco Ltd. raised its holdings in shares of Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company's stock valued at $206,697,000 after buying an additional 67,753 shares during the last quarter. Finally, Equity Investment Corp boosted its position in shares of Globe Life by 1.9% during the third quarter. Equity Investment Corp now owns 727,657 shares of the company's stock worth $79,118,000 after buying an additional 13,876 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

GL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Globe Life from $133.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an "in-line" rating on the stock in a report on Friday, April 12th. Truist Financial reduced their price objective on shares of Globe Life from $125.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 24th. Wells Fargo & Company lowered their target price on shares of Globe Life from $132.00 to $108.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.33.

Globe Life Price Performance

Globe Life stock traded down $1.92 during midday trading on Tuesday, hitting $76.17. The company's stock had a trading volume of 5,119,704 shares, compared to its average volume of 2,202,076. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.16 billion, a PE ratio of 7.28 and a beta of 0.69. The stock's 50-day moving average price is $105.71 and its 200-day moving average price is $115.07.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Analysts anticipate that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Globe Life's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.26%. Globe Life's dividend payout ratio (DPR) is currently 9.17%.

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.