KBC Group NV Lowers Holdings in Globe Life Inc. (NYSE:GL)

KBC Group NV trimmed its holdings in Globe Life Inc. (NYSE:GLFree Report) by 28.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,882 shares of the company’s stock after selling 6,274 shares during the quarter. KBC Group NV’s holdings in Globe Life were worth $1,771,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of Globe Life by 14.3% during the 2nd quarter. Creative Planning now owns 22,585 shares of the company’s stock worth $1,858,000 after acquiring an additional 2,827 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Globe Life during the 2nd quarter worth about $389,000. Sanctuary Advisors LLC purchased a new stake in shares of Globe Life during the 2nd quarter worth about $1,021,000. Czech National Bank boosted its stake in shares of Globe Life by 14.3% during the 3rd quarter. Czech National Bank now owns 18,297 shares of the company’s stock worth $1,938,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Globe Life by 51.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 21,500 shares of the company’s stock worth $2,277,000 after acquiring an additional 7,300 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 0.1 %

GL stock opened at $122.17 on Friday. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 10.34 and a beta of 0.80. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a 50-day moving average of $112.12 and a two-hundred day moving average of $105.81.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $0.24 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Insider Activity

In related news, Director Mark A. Blinn sold 3,000 shares of the 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock valued at $4,429,779 in the last 90 days. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GL. Truist Financial increased their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.18.

Read Our Latest Stock Analysis on Globe Life

Globe Life Profile

(Free Report)

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.

Further Reading

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

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.