Congress Wealth Management LLC DE Makes New Investment in Globe Life Inc. (NYSE:GL)

Congress Wealth Management LLC DE acquired a new stake in shares of Globe Life Inc. (NYSE:GL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,513 shares of the company’s stock, valued at approximately $392,000.

Several other institutional investors also recently made changes to their positions in GL. Raymond James Financial Inc. acquired a new stake in Globe Life during the 4th quarter worth approximately $61,238,000. State Street Corp grew its stake in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. increased its position in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after acquiring an additional 8,663 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Globe Life in the 4th quarter valued at $487,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock valued at $2,751,000 after acquiring an additional 9,395 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,338 shares of company stock valued at $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Globe Life Trading Down 1.3 %

NYSE GL opened at $129.65 on Friday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 10.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $131.98. The company’s fifty day moving average price is $123.98 and its two-hundred day moving average price is $113.91.

Globe Life (NYSE:GL) last issued 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%. As a group, research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life’s payout ratio is 9.04%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GL. Morgan Stanley increased their price target on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.60.

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.