New York State Teachers Retirement System Cuts Holdings in Globe Life Inc. (NYSE:GL)

New York State Teachers Retirement System lowered its holdings in Globe Life Inc. (NYSE:GL) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,102 shares of the company’s stock after selling 7,435 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Globe Life worth $12,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA increased its holdings in Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after buying an additional 84 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Globe Life by 18.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 784 shares of the company’s stock valued at $87,000 after purchasing an additional 124 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Globe Life by 685.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,209 shares of the company’s stock valued at $135,000 after purchasing an additional 1,055 shares during the period. Plato Investment Management Ltd bought a new position in Globe Life during the fourth quarter valued at approximately $84,000. Finally, Steward Partners Investment Advisory LLC grew its position in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,395 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 0.8%

GL stock opened at $121.20 on Friday. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 9.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1-year low of $80.36 and a 1-year high of $133.76. The business has a 50 day simple moving average of $121.25 and a two-hundred day simple moving average of $120.66.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $2.78 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on Globe Life from $117.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Wall Street Zen raised Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Piper Sandler decreased their target price 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. Finally, Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.73.

Insider Activity

In other news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.

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.