Teachers Retirement System of The State of Kentucky Has $710,000 Stake in Globe Life Inc. (NYSE:GL)

Teachers Retirement System of The State of Kentucky lowered its position in Globe Life Inc. (NYSE:GL) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,705 shares of the company’s stock after selling 394 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Globe Life were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 12.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,638 shares of the company’s stock valued at $875,000 after buying an additional 1,206 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after acquiring an additional 554 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Globe Life by 15.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 195,089 shares of the company’s stock worth $16,052,000 after purchasing an additional 25,562 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Globe Life by 48.7% in the 2nd quarter. Fifth Third Bancorp now owns 5,049 shares of the company’s stock worth $415,000 after purchasing an additional 1,654 shares during the last quarter. Finally, &PARTNERS bought a new stake in Globe Life during the second quarter worth approximately $311,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of GL stock opened at $104.43 on Thursday. The company has a market capitalization of $8.77 billion, a P/E ratio of 8.84 and a beta of 0.81. 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 stock has a 50 day moving average of $108.10 and a two-hundred day moving average of $98.58.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $2.71 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GL. Truist Financial boosted their price objective 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. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Raymond James increased their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.10.

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.