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

Edge Capital Group LLC lowered its position in Globe Life Inc. (NYSE:GL) by 64.9% during the 4th quarter, Holdings Channel reports. The fund owned 805 shares of the company’s stock after selling 1,488 shares during the period. Edge Capital Group LLC’s holdings in Globe Life were worth $90,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GL. Nuance Investments LLC increased its position in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares in the last quarter. Swedbank AB acquired a new position in Globe Life during the 4th quarter valued at about $52,414,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Globe Life by 22.3% during 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 worth $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Globe Life by 78.5% in the third quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock worth $30,768,000 after purchasing an additional 127,764 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Globe Life by 38.9% in the third quarter. Victory Capital Management Inc. now owns 421,018 shares of the company’s stock valued at $44,590,000 after purchasing an additional 117,839 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction 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 sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,678 shares of company stock worth $8,799,822. 1.51% of the stock is owned by company insiders.

Globe Life Stock Up 0.1 %

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

Globe Life (NYSE:GL) last posted its quarterly earnings data 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%. As a group, equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

GL has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.50.

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.