Voya Investment Management LLC Sells 2,331 Shares of Globe Life Inc. (NYSE:GL)

Voya Investment Management LLC trimmed its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,277 shares of the company's stock after selling 2,331 shares during the period. Voya Investment Management LLC's holdings in Globe Life were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Globe Life during the fourth quarter valued at $112,454,000. Raymond James Financial Inc. acquired a new stake in shares of Globe Life during the 4th quarter valued at about $61,238,000. Swedbank AB acquired a new position in Globe Life in the fourth quarter worth approximately $52,414,000. Marshall Wace LLP raised its position in Globe Life by 1,702.5% during the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after acquiring an additional 457,802 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Globe Life by 11,153.5% in the fourth quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company's stock valued at $49,635,000 after acquiring an additional 441,121 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GL shares. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Piper Sandler reduced their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their price target on Globe Life from $141.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.09.

Globe Life Stock Performance

GL stock traded down $0.31 on Monday, reaching $121.52. 524,391 shares of the company were exchanged, compared to its average volume of 917,473. The firm has a market capitalization of $10.12 billion, a PE ratio of 10.17 and a beta of 0.56. Globe Life Inc. has a 12 month low of $76.55 and a 12 month high of $133.76. The stock's fifty day moving average price is $124.02 and its 200 day moving average price is $116.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data 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). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $2.78 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is presently 8.79%.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

Globe Life 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.