Edge Capital Group LLC Sells 1,488 Shares of Globe Life Inc. (NYSE:GL)

Edge Capital Group LLC reduced its position in Globe Life Inc. (NYSE:GL) by 64.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 805 shares of the company’s stock after selling 1,488 shares during the quarter. Edge Capital Group LLC’s holdings in Globe Life were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GL. State Street Corp increased its stake in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Nuance Investments LLC increased its stake in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC raised its holdings 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 worth $106,835,000 after buying an additional 78,354 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley lifted their target price on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group lifted 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. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.50.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,678 shares of company stock worth $8,799,822 over the last three months. 1.51% of the stock is owned by company insiders.

Globe Life Stock Up 0.1 %

Shares of GL opened at $122.66 on Tuesday. The company has a market capitalization of $10.30 billion, a PE ratio of 10.26 and a beta of 0.81. The stock’s 50-day moving average price is $116.85 and its two-hundred day moving average price is $109.57. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $129.18.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 EPS 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, analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

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.