Ieq Capital LLC Raises Stock Holdings in Globe Life Inc. (NYSE:GL)

Ieq Capital LLC boosted its stake in Globe Life Inc. (NYSE:GL) by 102.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,927 shares of the company’s stock after acquiring an additional 18,720 shares during the period. Ieq Capital LLC’s holdings in Globe Life were worth $4,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GL. Creative Planning raised its holdings in Globe Life by 43.8% in the 3rd quarter. Creative Planning now owns 32,477 shares of the company’s stock valued at $3,440,000 after buying an additional 9,892 shares during the period. Blue Trust Inc. raised its holdings in Globe Life by 29.6% in the 3rd quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock valued at $107,000 after buying an additional 230 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Globe Life in the 3rd quarter valued at about $276,000. Signaturefd LLC raised its holdings in Globe Life by 24.2% in the 3rd quarter. Signaturefd LLC now owns 4,625 shares of the company’s stock valued at $490,000 after buying an additional 902 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in Globe Life in the 3rd quarter valued at about $262,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GL. Morgan Stanley boosted their price target on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.50.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock valued at $8,799,822 over the last three months. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Performance

Shares of Globe Life stock opened at $122.52 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a market cap of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The business has a 50-day simple moving average of $116.53 and a 200-day simple moving average of $109.07.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 return on equity of 22.32% and a net margin of 18.53%. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

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.