Truist Financial Corp Sells 18,062 Shares of Globe Life Inc. (NYSE:GL)

Truist Financial Corp lessened its position in shares of Globe Life Inc. (NYSE:GL) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,550 shares of the company’s stock after selling 18,062 shares during the quarter. Truist Financial Corp owned about 0.18% of Globe Life worth $20,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Globe Life by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after purchasing an additional 181,824 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after acquiring an additional 168,127 shares during the last quarter. Cooke & Bieler LP grew its holdings in Globe Life by 2.0% during the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after acquiring an additional 45,227 shares during the period. Invesco Ltd. raised its position in shares of Globe Life by 3.7% during the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after acquiring an additional 67,753 shares during the last quarter. Finally, Equity Investment Corp lifted its stake in shares of Globe Life by 1.9% in the 3rd quarter. Equity Investment Corp now owns 727,657 shares of the company’s stock valued at $79,118,000 after purchasing an additional 13,876 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Up 3.2 %

Globe Life stock opened at $78.19 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50-day moving average of $105.71 and a 200-day moving average of $115.07. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 7.47 and a beta of 0.69. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $2.53 earnings per share. On average, equities analysts expect that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Insider Activity

In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average price of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler decreased their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Wells Fargo & Company reduced their price objective on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $130.00 to $110.00 in a research note on Wednesday, April 24th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

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.