Principal Financial Group Inc. Has $13.10 Million Position in Globe Life Inc. (NYSE:GL)

Principal Financial Group Inc. lowered its stake in shares of Globe Life Inc. (NYSE:GL – Get Rating) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 108,643 shares of the company’s stock after selling 4,163 shares during the period. Principal Financial Group Inc.’s holdings in Globe Life were worth $13,097,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GL. JPMorgan Chase & Co. raised its position in shares of Globe Life by 7.2% during the first quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Globe Life by 3.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock worth $1,464,000 after purchasing an additional 538 shares in the last quarter. American Century Companies Inc. raised its position in Globe Life by 26.8% in the first quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after purchasing an additional 2,848 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Globe Life by 3.0% in the first quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock worth $477,000 after purchasing an additional 137 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in Globe Life by 23.9% in the first quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock worth $2,557,000 after purchasing an additional 4,897 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Globe Life Price Performance

GL opened at $105.96 on Thursday. Globe Life Inc. has a one year low of $87.87 and a one year high of $123.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.06 and a quick ratio of 0.06. The company’s 50 day simple moving average is $107.86 and its 200-day simple moving average is $114.78. The stock has a market capitalization of $10.13 billion, a P/E ratio of 13.07 and a beta of 0.79.

Globe Life (NYSE:GL – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.47 by $0.06. Globe Life had a net margin of 15.28% and a return on equity of 19.20%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned $1.70 earnings per share. Globe Life’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Globe Life Inc. will post 10.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent research reports. Morgan Stanley dropped their price target on shares of Globe Life from $133.00 to $129.00 and set an “underweight” rating for the company in a research report on Wednesday, April 12th. Piper Sandler dropped their price target on shares of Globe Life from $135.00 to $130.00 in a research report on Friday, May 5th. Truist Financial increased their price target on shares of Globe Life from $112.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, February 3rd. StockNews.com assumed coverage on shares of Globe Life in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Raymond James decreased their price objective on shares of Globe Life from $141.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Insider Activity

In other Globe Life news, EVP Robert Brian Mitchell sold 38,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $121.45, for a total value of $4,615,100.00. Following the transaction, the executive vice president now directly owns 4,310 shares of the company’s stock, valued at $523,449.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Globe Life news, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $121.36, for a total value of $1,213,600.00. Following the transaction, the chief executive officer now directly owns 3,370 shares of the company’s stock, valued at $408,983.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Brian Mitchell sold 38,000 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $121.45, for a total transaction of $4,615,100.00. Following the completion of the sale, the executive vice president now owns 4,310 shares in the company, valued at $523,449.50. The disclosure for this sale can be found here. Insiders have sold 91,125 shares of company stock valued at $10,994,960 over the last three months. 4.33% of the stock is owned by insiders.

Globe Life Company Profile

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.