AlphaQuest LLC Acquires 12,507 Shares of Globe Life Inc. (NYSE:GL)

AlphaQuest LLC lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 299.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,685 shares of the company’s stock after buying an additional 12,507 shares during the period. AlphaQuest LLC’s holdings in Globe Life were worth $1,861,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Nuance Investments LLC boosted its position in Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Globe Life during the 4th quarter worth approximately $61,238,000. Swedbank AB acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $52,414,000. Proficio Capital Partners LLC grew its stake in shares of Globe Life by 11,153.5% in the fourth quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company’s stock valued at $49,635,000 after buying an additional 441,121 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 in the last quarter. Company insiders own 1.51% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $125.55 on Friday. The stock has a 50 day simple moving average of $119.84 and a 200 day simple moving average of $111.38. The stock has a market cap of $10.53 billion, a P/E ratio of 10.51 and a beta of 0.77. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $131.39. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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%. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a $0.27 dividend. This is a boost 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 annualized dividend and a yield of 0.86%. Globe Life’s payout ratio is 9.04%.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Finally, Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.60.

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.