Proficio Capital Partners LLC Increases Stake in Globe Life Inc. (NYSE:GL)

Proficio Capital Partners LLC boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 11,153.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 445,076 shares of the company's stock after buying an additional 441,121 shares during the quarter. Proficio Capital Partners LLC owned 0.53% of Globe Life worth $49,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Versant Capital Management Inc grew 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 bought a new stake in shares of Globe Life in the fourth quarter worth $28,000. True Wealth Design LLC purchased a new stake in Globe Life during the third quarter valued at $59,000. Private Trust Co. NA lifted its holdings in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after acquiring an additional 270 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in Globe Life in the third quarter worth about $73,000. Institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of Globe Life stock traded up $0.83 during trading hours on Monday, hitting $128.26. The company's stock had a trading volume of 872,744 shares, compared to its average volume of 602,529. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $131.39. The business has a 50 day moving average price of $118.29 and a two-hundred day moving average price of $110.47. The company has a market cap of $10.75 billion, a PE ratio of 10.73 and a beta of 0.81.

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Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping 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%. Analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This is a positive change from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.84%. Globe Life's dividend payout ratio is currently 9.04%.

Analyst Upgrades and Downgrades

GL has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target for the company. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 24,890 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,948 shares of the company's stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,678 shares of company stock valued at $8,799,822. Corporate insiders own 1.51% of the company's stock.

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.