Vestcor Inc Raises Stock Holdings in Globe Life Inc. (NYSE:GL)

Vestcor Inc lifted its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 145.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,706 shares of the company's stock after purchasing an additional 7,521 shares during the period. Vestcor Inc's holdings in Globe Life were worth $1,346,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock worth $144,000 after buying an additional 97 shares during the last quarter. Thrivent Financial for Lutherans lifted 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 acquiring an additional 136 shares during the last quarter. Fiduciary Trust Co boosted its holdings in shares of Globe Life by 2.3% during the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock worth $670,000 after acquiring an additional 144 shares during the period. Farther Finance Advisors LLC grew its position in shares of Globe Life by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock valued at $382,000 after purchasing an additional 166 shares during the last quarter. Finally, TrueWealth Advisors LLC lifted its holdings in Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock worth $1,392,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares of the company's stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on GL shares. Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Truist Financial raised their price objective on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.10.

Globe Life Stock Down 0.5 %

Shares of GL traded down $0.56 during trading hours on Thursday, reaching $104.51. 608,240 shares of the stock traded hands, compared to its average volume of 1,464,188. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $108.09 and a 200 day simple moving average of $97.79. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 8.89 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Globe Life's dividend payout ratio is presently 8.12%.

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.