AlphaQuest LLC Raises Stock Position in Globe Life Inc. (NYSE:GL)

AlphaQuest LLC grew its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 299.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,685 shares of the company's stock after purchasing an additional 12,507 shares during the quarter. AlphaQuest LLC's holdings in Globe Life were worth $1,861,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT purchased a new position in shares of Globe Life in the fourth quarter worth about $28,000. True Wealth Design LLC bought a new stake in shares of Globe Life in the 3rd quarter valued at about $59,000. Cullen Frost Bankers Inc. boosted its holdings in Globe Life by 3,157.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 619 shares of the company's stock valued at $69,000 after acquiring an additional 600 shares during the period. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company's stock worth $71,000 after purchasing an additional 270 shares during the period. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Down 0.4 %

GL stock traded down $0.43 during trading on Thursday, hitting $121.92. 548,804 shares of the stock traded hands, compared to its average volume of 619,717. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 10.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $131.39. The firm's 50 day moving average is $120.57 and its two-hundred day moving average is $111.88.

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Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's dividend payout ratio is currently 9.04%.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GL shares. Keefe, Bruyette & Woods raised their target price 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. Wells Fargo & Company upped their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a report on Tuesday, December 10th. Finally, Morgan Stanley raised their price target on Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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.