State of New Jersey Common Pension Fund D Has $4.08 Million Holdings in Globe Life Inc. (NYSE:GL)

State of New Jersey Common Pension Fund D cut its holdings in shares of Globe Life Inc. (NYSE:GL) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,581 shares of the company’s stock after selling 1,402 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Globe Life were worth $4,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GL. New Mexico Educational Retirement Board increased its position in Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Globe Life by 4.5% in the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock valued at $313,000 after purchasing an additional 121 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after purchasing an additional 136 shares during the last quarter. Fiduciary Trust Co lifted its holdings in Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock worth $670,000 after buying an additional 144 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Globe Life by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after buying an additional 144 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GL. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted 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. Morgan Stanley upped their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Five 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 stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $135.50.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,678 shares of company stock valued at $8,799,822. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Up 0.1 %

Globe Life stock opened at $124.00 on Thursday. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 10.38 and a beta of 0.81. The company’s 50 day simple moving average is $115.80 and its 200 day simple moving average is $108.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results 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 net margin of 18.53% and a return on equity of 22.32%. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.83 EPS 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.