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

Truist Financial Corp decreased its position in Globe Life Inc. (NYSE:GL) by 9.7% during the 4th quarter, Holdings Channel reports. The firm owned 167,550 shares of the company’s stock after selling 18,062 shares during the period. Truist Financial Corp’s holdings in Globe Life were worth $20,394,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GL. Lindbrook Capital LLC raised its position in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Globe Life by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after acquiring an additional 99 shares during the period. Stonegate Investment Group LLC boosted its holdings in Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after acquiring an additional 116 shares in the last quarter. Brown Advisory Inc. increased its position in Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after purchasing an additional 121 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in Globe Life by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of several research analyst reports. Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Truist Financial dropped their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Wells Fargo & Company reduced 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 report on Wednesday, April 24th. Finally, StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five 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’s stock. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Insider Activity

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

Globe Life Stock Performance

GL stock opened at $78.19 on Tuesday. The stock has a market capitalization of $7.35 billion, a PE ratio of 7.47 and a beta of 0.69. The stock’s 50 day simple moving average is $105.71 and its 200 day simple moving average is $115.07. Globe Life Inc. has a 12-month low of $38.95 and a 12-month 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.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate 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%. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, research analysts forecast that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is 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.