CIBC Private Wealth Group LLC Increases Stock Position in Globe Life Inc. (NYSE:GL)

CIBC Private Wealth Group LLC lifted its position in shares of Globe Life Inc. (NYSE:GL) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,204 shares of the company’s stock after buying an additional 535 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.06% of Globe Life worth $6,186,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its position in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after buying an additional 194 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Globe Life during the 4th quarter valued at $28,000. Albion Financial Group UT purchased a new stake in Globe Life during the 4th quarter worth $28,000. Avalon Trust Co purchased a new stake in Globe Life during the 4th quarter worth $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GL. Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Five investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Trading Up 0.3 %

Globe Life stock opened at $132.07 on Wednesday. The company has a market cap of $10.99 billion, a P/E ratio of 11.05 and a beta of 0.77. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $133.31. The firm’s 50-day moving average is $124.49 and its 200-day moving average is $114.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s payout ratio is 9.04%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 over the last ninety days. Company insiders own 1.51% of the company’s stock.

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.