Globe Life Inc. (NYSE:GL) Shares Purchased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,293 shares of the company’s stock after purchasing an additional 88 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Globe Life were worth $256,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new stake in Globe Life during the 4th quarter valued at approximately $28,000. True Wealth Design LLC acquired a new stake in Globe Life during the 3rd quarter valued at approximately $59,000. Cullen Frost Bankers Inc. grew its stake in Globe Life by 3,157.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company’s stock valued at $69,000 after purchasing an additional 600 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction 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. The trade was a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last quarter. Corporate insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Morgan Stanley increased their target price on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Wells Fargo & Company increased their target price on 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 began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased 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. Five equities research 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. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Trading Up 0.9 %

Shares of NYSE GL opened at $125.55 on Friday. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. 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’s 50 day simple moving average is $119.52 and its 200 day simple moving average is $111.09.

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

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.86%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is presently 9.04%.

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.