Ieq Capital LLC Boosts Position in Globe Life Inc. (NYSE:GL)

Ieq Capital LLC boosted its holdings in shares of Globe Life Inc. (NYSE:GL) by 102.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,927 shares of the company’s stock after buying an additional 18,720 shares during the quarter. Ieq Capital LLC’s holdings in Globe Life were worth $4,118,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Globe Life by 3.4% during 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Nuance Investments LLC increased its holdings in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock valued at $106,835,000 after purchasing an additional 78,354 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 1.4 %

Shares of GL opened at $122.52 on Friday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. 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’s fifty day moving average is $116.53 and its two-hundred day moving average is $109.07. The stock has a market cap of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) 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%. Research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GL shares. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Morgan Stanley lifted their price target 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, February 11th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $135.50.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, 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 75,678 shares of company stock valued at $8,799,822 in the last 90 days. 1.51% of the stock is owned by insiders.

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.