Hillsdale Investment Management Inc. Makes New Investment in Globe Life Inc. (NYSE:GL)

Hillsdale Investment Management Inc. bought a new position in Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,350 shares of the company's stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Raymond James Financial Inc. bought a new stake in shares of Globe Life in the fourth quarter worth $61,238,000. State Street Corp increased its stake in Globe Life by 3.4% in the 3rd 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 last quarter. Principal Financial Group Inc. lifted its position in Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after buying an additional 8,663 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Globe Life during the 4th quarter worth about $487,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Globe Life by 61.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company's stock worth $2,751,000 after buying an additional 9,395 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on GL. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. 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. Jefferies Financial Group raised 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. Morgan Stanley upped their price target on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company increased their price target 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. Five investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

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Globe Life Stock Performance

Shares of NYSE:GL traded up $0.97 on Thursday, hitting $131.50. The company had a trading volume of 564,197 shares, compared to its average volume of 1,393,725. The stock has a 50 day moving average price of $123.47 and a 200 day moving average price of $113.52. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 11.00 and a beta of 0.77. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.50.

Globe Life (NYSE:GL - Get Free Report) last released 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%. Analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is a boost from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company's stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last ninety days. 1.51% of the stock is owned by company insiders.

Globe Life Company 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.