Truist Financial Corp Has $5.80 Million Position in Globe Life Inc. (NYSE:GL)


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Truist Financial Corp boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,037 shares of the company’s stock after acquiring an additional 10,443 shares during the quarter. Truist Financial Corp owned 0.06% of Globe Life worth $5,795,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GL. Perigon Wealth Management LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at $29,000. Inspire Advisors LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at $44,000. Neo Ivy Capital Management bought a new position in Globe Life in the third quarter valued at about $54,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Globe Life in the fourth quarter valued at about $78,000. Finally, Vantage Consulting Group Inc bought a new position in Globe Life in the fourth quarter valued at about $80,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

In related news, EVP Robert Brian Mitchell sold 3,000 shares of the stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $100.45, for a total transaction of $301,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Kendall Carlson sold 18,000 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $100.10, for a total transaction of $1,801,800.00. Following the transaction, the insider now owns 3,000 shares of the company’s stock, valued at approximately $300,300. The disclosure for this sale can be found here. Insiders sold 120,150 shares of company stock valued at $11,921,669 in the last quarter. Corporate insiders own 3.78% of the company’s stock.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler increased their price target on shares of Globe Life from $87.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, January 6th. Finally, Morgan Stanley boosted their price objective on shares of Globe Life from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $97.50.

Shares of NYSE GL opened at $98.89 on Thursday. The stock has a market cap of $11.47 billion, a P/E ratio of 15.01 and a beta of 1.13. The firm has a 50 day moving average price of $97.61 and a 200 day moving average price of $91.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life Inc. has a 52-week low of $62.75 and a 52-week high of $102.25.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Globe Life had a net margin of 15.38% and a return on equity of 10.28%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, April 5th will be issued a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, April 1st. This is a boost from Globe Life’s previous quarterly dividend of $0.19.

Globe Life Profile

Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

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Institutional Ownership by Quarter for Globe Life (NYSE:GL)

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