Vontobel Holding Ltd. increased its position in Globe Life Inc. (NYSE:GL - Free Report) by 79.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,434 shares of the company's stock after buying an additional 2,851 shares during the quarter. Vontobel Holding Ltd.'s holdings in Globe Life were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in GL. Versant Capital Management Inc boosted its stake 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 purchasing an additional 194 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Globe Life during the fourth quarter worth $28,000. True Wealth Design LLC bought a new stake in shares of Globe Life in the third quarter valued at about $59,000. Private Trust Co. NA raised its holdings in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock worth $71,000 after purchasing an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of Globe Life during the third quarter worth about $73,000. 81.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Globe Life
In other news, CEO Frank M. Svoboda sold 13,448 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $3,024,632.80. Following the sale, 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 valued at $8,799,822 in the last three months. Corporate insiders own 1.51% of the company's stock.
Wall Street Analysts Forecast Growth
GL has been the subject of several analyst reports. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and upped their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Morgan Stanley raised their target price on Globe Life from $123.00 to $125.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.50.
Read Our Latest Analysis on Globe Life
Globe Life Price Performance
NYSE:GL traded down $1.75 during trading hours on Friday, reaching $122.52. The company had a trading volume of 626,701 shares, compared to its average volume of 562,430. The stock has a 50-day moving average of $116.53 and a two-hundred day moving average of $109.07. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.
Globe Life (NYSE:GL - Get Free Report) last issued 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 return on equity of 22.32% and a net margin of 18.53%. Analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.
About Globe Life
(
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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