20,400 Globe Life Inc. $GL Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in Globe Life Inc. (NYSE:GL) by 79.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,200 shares of the company’s stock after selling 20,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Globe Life were worth $861,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amundi boosted its position in shares of Globe Life by 307.4% during the second quarter. Amundi now owns 162,223 shares of the company’s stock valued at $28,986,000 after purchasing an additional 122,402 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Globe Life by 49.1% during the 1st quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock valued at $9,993,000 after buying an additional 23,632 shares in the last quarter. State Street Corp boosted its holdings in shares of Globe Life by 2.1% during the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after buying an additional 76,745 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Globe Life in the 2nd quarter worth about $17,229,000. Finally, Jefferies Financial Group Inc. purchased a new position in Globe Life during the 2nd quarter valued at about $1,252,000. Institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Globe Life from $193.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Jefferies Financial Group raised their price target on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods cut their price objective on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 21st. Finally, TD Cowen decreased their price objective on shares of Globe Life from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.50.

Insider Activity at Globe Life

In other Globe Life news, EVP Robert Hensley sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares of the company’s stock, valued at approximately $2,106,146.88. The trade was a 44.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Majors sold 14,377 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $154.48, for a total value of $2,220,958.96. Following the completion of the transaction, the executive vice president directly owned 39,141 shares in the company, valued at $6,046,501.68. This trade represents a 26.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.11% of the stock is owned by corporate insiders.

Globe Life Stock Performance

GL stock opened at $159.28 on Friday. The company has a market cap of $12.24 billion, a P/E ratio of 10.65 and a beta of 0.47. Globe Life Inc. has a 1 year low of $129.21 and a 1 year high of $191.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s fifty day moving average price is $167.23 and its 200-day moving average price is $160.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing the consensus estimate of $4.90 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a return on equity of 19.95% and a net margin of 18.89%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.81 EPS. On average, equities analysts forecast that Globe Life Inc. will post 15.48 earnings per share for the current year.

Globe Life announced that its Board of Directors has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to buy up to 17.7% of its shares through open market purchases. Share repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Globe Life Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.