C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,093 shares of the company's stock, valued at approximately $903,000.
Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after acquiring an additional 194 shares during the period. Albion Financial Group UT bought a new position in Globe Life in the 4th quarter valued at approximately $28,000. True Wealth Design LLC bought a new position in Globe Life in the 3rd quarter valued at approximately $59,000. Private Trust Co. NA lifted its holdings in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after buying an additional 270 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Globe Life in the 3rd quarter worth $73,000. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Price Performance
Shares of GL traded down $2.17 during midday trading on Friday, hitting $122.10. 326,849 shares of the company traded hands, compared to its average volume of 575,042. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a 50 day moving average of $116.19 and a 200-day moving average of $108.83. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 10.21 and a beta of 0.81.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Morgan Stanley increased their price target on Globe Life from $123.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target for the company. Finally, Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $135.50.
Get Our Latest Research Report on GL
Insider Activity at Globe Life
In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares of the company's stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. Insiders own 1.51% of the company's stock.
Globe Life Company Profile
(
Free Report)
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.
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