C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Stake in Globe Life Inc. (NYSE:GL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Globe Life Inc. (NYSE:GL - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,093 shares of the company's stock, valued at approximately $903,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after buying an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock worth $160,949,000 after buying an additional 277,108 shares during the period. Nuance Investments LLC grew its holdings in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company's stock worth $106,835,000 after acquiring an additional 78,354 shares during the period. Institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GL. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Truist Financial raised their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Finally, 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 report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.10.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was 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 directly owns 16,396 shares of the company's stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock worth $8,799,822 over the last three months. Insiders own 1.51% of the company's stock.

Globe Life Price Performance

Globe Life stock traded down $1.74 during trading on Monday, reaching $121.80. The company had a trading volume of 526,009 shares, compared to its average volume of 510,240. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm's 50-day simple moving average is $115.01 and its 200 day simple moving average is $108.39. The firm has a market capitalization of $10.22 billion, a PE ratio of 10.19 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.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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, equities research analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

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.