Congress Wealth Management LLC DE Takes Position in Globe Life Inc. (NYSE:GL)

Congress Wealth Management LLC DE bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,513 shares of the company's stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in Globe Life by 388.0% in 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. Rakuten Securities Inc. acquired a new position in shares of Globe Life during the fourth quarter worth $28,000. Albion Financial Group UT purchased a new position in shares of Globe Life in the fourth quarter valued at $28,000. Avalon Trust Co acquired a new stake in Globe Life during the 4th quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC increased its stake in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GL shares. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler raised their price objective on Globe Life from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Wednesday. Jefferies Financial Group upped their target price on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.45.

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Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction 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 sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by insiders.

Globe Life Stock Performance

Shares of NYSE:GL traded down $5.76 during trading on Thursday, reaching $127.33. 796,920 shares of the company's stock traded hands, compared to its average volume of 1,416,637. The stock has a market capitalization of $10.60 billion, a P/E ratio of 10.66 and a beta of 0.77. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $133.76. The company has a 50 day moving average of $124.93 and a 200-day moving average of $114.63. 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 (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, equities analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.85%. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

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.