C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $903,000 in Globe Life Inc. (NYSE:GL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Globe Life Inc. (NYSE:GL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,093 shares of the company’s stock, valued at approximately $903,000.

Several other institutional investors and hedge funds have also modified their holdings of GL. Ballentine Partners LLC raised its holdings in Globe Life by 4.5% in the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock worth $313,000 after acquiring an additional 121 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after purchasing an additional 136 shares during the period. Fiduciary Trust Co lifted its position in shares of Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock worth $670,000 after purchasing an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Globe Life by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock valued at $2,110,000 after purchasing an additional 144 shares during the period. Finally, Savant Capital LLC grew its holdings in Globe Life by 0.3% in the 4th quarter. Savant Capital LLC now owns 56,045 shares of the company’s stock valued at $6,250,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the 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 transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,678 shares of company stock worth $7,454,412 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $123.58 on Friday. The stock has a market capitalization of $10.37 billion, a P/E ratio of 10.34 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a 50 day moving average of $114.32 and a 200-day moving average of $107.77.

Globe Life (NYSE:GL) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Globe Life Inc. will post 13.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GL has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Finally, Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.10.

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.