Globe Life Inc. (NYSE:GL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in Globe Life Inc. (NYSE:GL) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,377 shares of the company’s stock after selling 400 shares during the quarter. CIBC Asset Management Inc’s holdings in Globe Life were worth $1,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. State Street Corp grew its position in shares of 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 in the last quarter. Principal Financial Group Inc. boosted its stake in Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the last quarter. Merit Financial Group LLC acquired a new position in Globe Life during the 4th quarter worth $487,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after purchasing an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Globe Life by 56.0% during the fourth quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after purchasing an additional 3,662 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,678 shares of company stock valued at $8,799,822 in the last quarter. Corporate insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GL shares. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Morgan Stanley upped their price target 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. Keefe, Bruyette & Woods lifted their price objective 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. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.50.

Globe Life Trading Down 1.4 %

Shares of NYSE:GL opened at $122.52 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $116.53 and its 200 day moving average price is $109.07. The company has a market cap of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

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.