Teachers Retirement System of The State of Kentucky Has $4.56 Million Holdings in Globe Life Inc. (NYSE:GL)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Globe Life Inc. (NYSE:GLGet Rating) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,366 shares of the company’s stock after selling 287 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Globe Life were worth $4,564,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. Invesco Ltd. grew its stake in shares of Globe Life by 36.3% in the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock worth $191,981,000 after purchasing an additional 508,064 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Globe Life by 60,684.5% in the first quarter. Westpac Banking Corp now owns 187,824 shares of the company’s stock worth $18,895,000 after purchasing an additional 187,515 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Globe Life in the first quarter worth $15,679,000. Finally, Eaton Vance Management grew its stake in shares of Globe Life by 104.9% in the first quarter. Eaton Vance Management now owns 248,384 shares of the company’s stock worth $24,988,000 after purchasing an additional 127,139 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of NYSE GL opened at $102.26 on Monday. The firm’s 50-day moving average price is $100.21 and its 200-day moving average price is $98.97. Globe Life Inc. has a 1-year low of $85.25 and a 1-year high of $108.61. The firm has a market capitalization of $9.96 billion, a P/E ratio of 14.55 and a beta of 0.88. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GLGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.03. Globe Life had a net margin of 13.68% and a return on equity of 9.90%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.2075 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.83 annualized dividend and a dividend yield of 0.81%. Globe Life’s dividend payout ratio is currently 11.81%.

Insider Activity

In other news, CAO Michael Shane Henrie sold 800 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jason A. Harvey sold 2,013 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $103.19, for a total value of $207,721.47. Following the sale, the insider now owns 460 shares in the company, valued at approximately $47,467.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael Shane Henrie sold 800 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,963 shares of company stock worth $5,683,928. Company insiders own 4.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Globe Life from $109.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $108.00 to $112.00 in a research report on Monday, July 11th. Piper Sandler upped their price target on shares of Globe Life from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, July 8th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $105.00 to $112.00 in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $110.86.

About Globe Life

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Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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