Proficio Capital Partners LLC Raises Position in Globe Life Inc. (NYSE:GL)

Proficio Capital Partners LLC increased its holdings in Globe Life Inc. (NYSE:GL) by 11,153.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 445,076 shares of the company’s stock after acquiring an additional 441,121 shares during the quarter. Proficio Capital Partners LLC’s holdings in Globe Life were worth $49,635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GL. SRN Advisors LLC raised its holdings in shares of Globe Life by 26.0% during the fourth quarter. SRN Advisors LLC now owns 8,187 shares of the company’s stock valued at $913,000 after purchasing an additional 1,687 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Globe Life in the fourth quarter worth about $6,649,000. Ieq Capital LLC boosted its stake in shares of Globe Life by 102.8% in the fourth quarter. Ieq Capital LLC now owns 36,927 shares of the company’s stock worth $4,118,000 after acquiring an additional 18,720 shares during the period. New York State Common Retirement Fund lifted its position in shares of Globe Life by 13.0% in the fourth quarter. New York State Common Retirement Fund now owns 156,508 shares of the company’s stock worth $17,454,000 after buying an additional 18,033 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Globe Life in the fourth quarter worth about $903,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley increased their price objective on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Finally, Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.50.

Globe Life Price Performance

Shares of NYSE:GL opened at $124.26 on Friday. The company has a 50-day simple moving average of $117.93 and a 200-day simple moving average of $109.98. Globe Life Inc. has a one year low of $38.95 and a one year high of $129.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.40 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts predict that Globe Life Inc. will post 13.87 EPS 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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is 8.03%.

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.