Kentucky Retirement Systems Insurance Trust Fund Reduces Position in Globe Life Inc. (NYSE:GL)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Globe Life Inc. (NYSE:GL) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,826 shares of the company’s stock after selling 225 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Globe Life were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GL. Raymond James & Associates boosted its holdings in shares of Globe Life by 33.6% during the fourth quarter. Raymond James & Associates now owns 233,917 shares of the company’s stock worth $28,472,000 after purchasing an additional 58,806 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Globe Life by 43.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 74,254 shares of the company’s stock worth $9,038,000 after purchasing an additional 22,509 shares during the last quarter. Welch Group LLC boosted its holdings in shares of Globe Life by 1.9% during the fourth quarter. Welch Group LLC now owns 46,514 shares of the company’s stock worth $5,662,000 after purchasing an additional 849 shares during the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after purchasing an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 3.0 %

Shares of GL traded up $2.72 during midday trading on Monday, reaching $93.41. 387,723 shares of the company were exchanged, compared to its average volume of 1,934,131. The stock has a 50-day moving average price of $83.59 and a 200-day moving average price of $99.12. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 8.92 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. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Research analysts expect that Globe Life Inc. will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is 9.17%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GL shares. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Jefferies Financial Group lifted their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Morgan Stanley lifted their target price on Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.44.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average cost of $84.82 per share, with a total value of $169,640.00. Following the completion of the transaction, the chief executive officer now owns 37,973 shares in the company, valued at $3,220,869.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $84.43 per share, with a total value of $42,215.00. Following the completion of the acquisition, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden acquired 2,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $84.82 per share, with a total value of $169,640.00. Following the completion of the acquisition, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,000 shares of company stock valued at $687,880. 1.51% of the stock is currently owned by insiders.

Globe Life 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.