Consolidated Planning Corp Buys New Position in Globe Life Inc. (NYSE:GL)

Consolidated Planning Corp acquired a new position in shares of Globe Life Inc. (NYSE:GL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,650 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GL. State Street Corp boosted its holdings in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Globe Life during the 4th quarter worth $487,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Globe Life by 85.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of Globe Life by 56.0% during the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,662 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on 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 directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,678 shares of company stock worth $7,454,412. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group boosted their price objective 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. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley boosted their price objective on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.10.

Globe Life Trading Up 1.7 %

Globe Life stock opened at $123.58 on Friday. The stock has a market cap of $10.37 billion, a PE 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. The stock has a 50-day moving average price of $114.32 and a 200 day moving average price of $107.77. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping 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%. Equities research analysts predict that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Globe Life Company 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.