Globe Life Inc. (NYSE:GL) Holdings Lifted by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its holdings in shares of Globe Life Inc. (NYSE:GL) by 11,153.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 445,076 shares of the company’s stock after buying an additional 441,121 shares during the period. Proficio Capital Partners LLC owned approximately 0.53% of Globe Life worth $49,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. increased its position in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after purchasing an additional 8,663 shares during the last quarter. Merit Financial Group LLC acquired a new position in Globe Life in the 4th quarter worth about $487,000. Wealth Enhancement Advisory Services LLC increased its position in Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Globe Life by 56.0% in the 4th 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 institutional investors and hedge funds.

Globe Life Price Performance

Shares of NYSE GL opened at $124.26 on Friday. The business’s 50 day moving average price is $117.93 and its two-hundred day moving average price is $109.98. The company has a market cap of $10.43 billion, a PE ratio of 10.40 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 Inc. has a twelve month low of $38.95 and a twelve month high of $129.18.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (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 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. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. Globe Life’s dividend payout ratio is 8.03%.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now 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 sale was disclosed in a legal filing 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 dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,678 shares of company stock worth $8,799,822 over the last three months. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley upped their price target 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. Five research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.50.

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.