Globe Life Inc. (NYSE:GL) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Globe Life Inc. (NYSE:GL) by 719.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,225 shares of the company’s stock after purchasing an additional 21,269 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Globe Life were worth $2,702,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares during the period. Albion Financial Group UT purchased a new position in shares of Globe Life during the 4th quarter worth about $28,000. Riverview Trust Co purchased a new position in shares of Globe Life during the 3rd quarter worth about $32,000. True Wealth Design LLC purchased a new position in shares of Globe Life during the 3rd quarter worth about $59,000. Finally, Private Trust Co. NA lifted its holdings in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Morgan Stanley raised their price target on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday. Truist Financial raised their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.10.

Globe Life Stock Up 1.7 %

Shares of NYSE:GL opened at $123.58 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a 50 day moving average of $114.32 and a two-hundred day moving average of $107.77. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 10.34 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, analysts forecast that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,678 shares of company stock valued at $7,454,412 over the last 90 days. 1.51% of the stock is owned by corporate 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.