Integrated Investment Consultants LLC Acquires Shares of 3,375 Globe Life Inc. (NYSE:GL)

Key Points

• Integrated Investment Consultants LLC acquired 3,375 shares of Globe Life Inc. valued at approximately $445,000 during the first quarter.
• Globe Life's recent earnings report showed an EPS of $3.27, slightly exceeding the consensus estimate of $3.25, with a year-over-year revenue increase of 2.9%.
• Wells Fargo and other analysts have recently upgraded Globe Life's target price, with a consensus rating of "Moderate Buy" and an average target price of $145.09.

Integrated Investment Consultants LLC acquired a new position in Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,375 shares of the company's stock, valued at approximately $445,000.

Other large investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new stake in Globe Life in the 4th quarter worth about $68,000. Allworth Financial LP grew its holdings in Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after buying an additional 103 shares in the last quarter. Versant Capital Management Inc grew its holdings in Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after buying an additional 342 shares in the last quarter. Blue Trust Inc. grew its holdings in Globe Life by 42.4% during the 1st quarter. Blue Trust Inc. now owns 772 shares of the company's stock valued at $102,000 after buying an additional 230 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in Globe Life during the 4th quarter valued at about $116,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

NYSE:GL traded down $0.27 during mid-day trading on Wednesday, reaching $143.00. The stock had a trading volume of 267,195 shares, compared to its average volume of 652,879. The firm has a 50 day moving average price of $122.17 and a two-hundred day moving average price of $122.44. The stock has a market capitalization of $11.80 billion, a P/E ratio of 11.41 and a beta of 0.56. Globe Life Inc. has a one year low of $86.10 and a one year high of $143.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. Globe Life's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. As a group, analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the sale, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares of the company's stock, valued at $6,758,076.78. The trade was a 40.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GL shares. Keefe, Bruyette & Woods lifted their target price on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday. Piper Sandler reduced their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial started coverage on Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price for the company. Finally, Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.00.

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.