C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $903,000 in Globe Life Inc. (NYSE:GL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Globe Life Inc. (NYSE:GL) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 8,093 shares of the company’s stock, valued at approximately $903,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its position 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 worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the period. Nuance Investments LLC increased its holdings in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position 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 acquiring an additional 78,354 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is owned by company insiders.

Globe Life Stock Performance

NYSE:GL opened at $124.00 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $10.41 billion, a PE ratio of 10.38 and a beta of 0.81. The firm has a 50 day simple moving average of $115.80 and a 200-day simple moving average of $108.73. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly 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%. On average, equities analysts expect that Globe Life Inc. will post 13.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GL. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley lifted their price target on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $135.50.

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.