Private Advisor Group LLC Acquires Shares of 2,337 Globe Life Inc. (NYSE:GL)

Key Points

• Private Advisor Group LLC has acquired 2,337 shares of Globe Life Inc. in Q1, valued around $308,000.
• Several large investors have increased their stakes in Globe Life, with Allworth Financial LP raising its position by 22.0% this quarter.
• Analysts have given Globe Life an average rating of "Moderate Buy" and set a consensus target price of $149.18.

Private Advisor Group LLC bought a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,337 shares of the company's stock, valued at approximately $308,000.

Other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new position in Globe Life during the fourth quarter valued at $68,000. Allworth Financial LP grew its holdings in Globe Life by 22.0% during the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after purchasing an additional 103 shares during the period. Versant Capital Management Inc grew its holdings in Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after purchasing an additional 342 shares during the period. Blue Trust Inc. grew its holdings in Globe Life by 42.4% during the first quarter. Blue Trust Inc. now owns 772 shares of the company's stock valued at $102,000 after purchasing an additional 230 shares during the period. Finally, Virtus Fund Advisers LLC bought a new position in Globe Life during the fourth quarter valued at $116,000. 81.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares in the company, valued at $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the transaction, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,741 shares of company stock worth $11,097,080 over the last 90 days. Corporate insiders own 1.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Morgan Stanley increased their target price on Globe Life from $127.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Truist Financial began coverage on Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Finally, BMO Capital Markets restated a "market perform" rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.18.

Globe Life Price Performance

Shares of GL stock traded down $3.29 on Friday, reaching $137.18. The company's stock had a trading volume of 756,639 shares, compared to its average volume of 757,545. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12-month low of $86.10 and a 12-month high of $144.00. The company has a market capitalization of $11.32 billion, a P/E ratio of 10.97 and a beta of 0.56. The stock's 50 day simple moving average is $123.36 and its 200-day simple moving average is $122.92.

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

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.