Globe Life Inc. (NYSE:GL) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 719.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,225 shares of the company's stock after buying an additional 21,269 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Globe Life were worth $2,702,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GL. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company's stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in shares of Globe Life in the third quarter valued at approximately $32,000. True Wealth Design LLC acquired a new position in shares of Globe Life in the third quarter valued at approximately $59,000. Finally, Private Trust Co. NA increased its holdings in shares of Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GL shares. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, October 25th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Morgan Stanley upped their price objective on Globe Life from $123.00 to $125.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.10.

Insiders Place Their Bets

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now owns 13,485 shares of the company's stock, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction dated Monday, January 6th. The shares were 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 $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock worth $8,799,822 over the last three months. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

GL traded down $1.74 during trading on Monday, reaching $121.80. 526,009 shares of the stock were exchanged, compared to its average volume of 510,240. The business's 50 day moving average price is $115.01 and its two-hundred day moving average price is $108.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 10.19 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current year.

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.