Corebridge Financial Inc. Has $2.22 Million Position in Globe Life Inc. (NYSE:GL)

Corebridge Financial Inc. lessened its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,910 shares of the company's stock after selling 2,384 shares during the quarter. Corebridge Financial Inc.'s holdings in Globe Life were worth $2,220,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after buying an additional 136 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Globe Life by 7.6% during the 3rd quarter. Townsquare Capital LLC now owns 3,598 shares of the company's stock worth $381,000 after purchasing an additional 253 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Globe Life by 7.5% in the third quarter. Glenmede Trust Co. NA now owns 6,428 shares of the company's stock worth $681,000 after purchasing an additional 447 shares during the period. MetLife Investment Management LLC raised its stake in Globe Life by 3.5% in the third quarter. MetLife Investment Management LLC now owns 23,334 shares of the company's stock valued at $2,471,000 after purchasing an additional 785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Globe Life by 12.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,098 shares of the company's stock valued at $1,811,000 after purchasing an additional 1,919 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

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Wall Street Analyst Weigh In

GL has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and raised their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.45.

Globe Life Trading Down 8.0 %

NYSE GL traded down $10.21 during trading hours on Friday, reaching $117.30. The company's stock had a trading volume of 1,263,316 shares, compared to its average volume of 1,416,028. The firm has a fifty day simple moving average of $124.93 and a 200-day simple moving average of $114.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $133.76. The stock has a market cap of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Globe Life's previous quarterly dividend of $0.24. Globe Life's payout ratio is 9.04%.

Insider Activity

In related news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,338 shares of company stock valued at $7,239,630. Company insiders own 1.51% of the company's stock.

About Globe Life

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.