First Hawaiian Bank Sells 4,779 Shares of Globe Life Inc. (NYSE:GL)

First Hawaiian Bank cut its holdings in Globe Life Inc. (NYSE:GL) by 36.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,384 shares of the company’s stock after selling 4,779 shares during the period. First Hawaiian Bank’s holdings in Globe Life were worth $690,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Globe Life by 13.8% in the second quarter. GAMMA Investing LLC now owns 3,513 shares of the company’s stock worth $289,000 after acquiring an additional 427 shares during the period. SRN Advisors LLC raised its position in shares of Globe Life by 5.2% during the 1st quarter. SRN Advisors LLC now owns 6,758 shares of the company’s stock valued at $786,000 after purchasing an additional 332 shares during the period. Railway Pension Investments Ltd raised its position in shares of Globe Life by 42.2% during the 1st quarter. Railway Pension Investments Ltd now owns 19,200 shares of the company’s stock valued at $2,234,000 after purchasing an additional 5,700 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Globe Life by 105.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 152,133 shares of the company’s stock valued at $17,584,000 after purchasing an additional 78,208 shares during the period. Finally, Boston Partners raised its position in shares of Globe Life by 6.4% during the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GL shares. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Piper Sandler raised their target price on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.33.

Insider Activity at Globe Life

In other Globe Life news, CFO Thomas Peter Kalmbach purchased 500 shares of Globe Life stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the acquisition, the chief financial officer now owns 18,080 shares in the company, valued at approximately $1,526,494.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $84.43 per share, with a total value of $42,215.00. Following the transaction, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Edward Hensley acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now owns 7,290 shares in the company, valued at $599,019.30. The disclosure for this purchase can be found here. Insiders purchased 8,000 shares of company stock worth $687,880 in the last 90 days. 1.51% of the stock is owned by corporate insiders.

Globe Life Trading Down 2.5 %

Shares of Globe Life stock traded down $2.28 during trading on Monday, hitting $88.63. The stock had a trading volume of 968,755 shares, compared to its average volume of 1,904,226. The firm’s fifty day simple moving average is $84.51 and its 200-day simple moving average is $98.15. The stock has a market cap of $7.98 billion, a PE ratio of 8.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.61 EPS. As a group, sell-side analysts expect that Globe Life Inc. will post 11.92 EPS for the current fiscal year.

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.