Congress Wealth Management LLC DE Takes $392,000 Position in Globe Life Inc. (NYSE:GL)

Congress Wealth Management LLC DE acquired a new position in Globe Life Inc. (NYSE:GL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,513 shares of the company’s stock, valued at approximately $392,000.

Several other large investors have also recently added to or reduced their stakes in GL. Versant Capital Management Inc boosted its holdings in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares in the last quarter. Rakuten Securities Inc. bought a new position in Globe Life during the 4th quarter valued at $28,000. Albion Financial Group UT acquired a new position in shares of Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter worth $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Down 1.3 %

Shares of Globe Life stock opened at $129.65 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.98. The company has a market cap of $10.79 billion, a P/E ratio of 10.85 and a beta of 0.77. 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 $123.98 and a 200 day moving average price of $113.91.

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

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.83%. Globe Life’s dividend payout ratio is 9.04%.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets assumed 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 upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.60.

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.