3,341 Shares in Globe Life Inc. (NYSE:GL) Bought by Diametric Capital LP

Diametric Capital LP bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,341 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds also recently added to or reduced their stakes in GL. Norges Bank acquired a new position in shares of Globe Life in the 4th quarter valued at about $112,454,000. Raymond James Financial Inc. purchased a new position in Globe Life during the fourth quarter valued at approximately $61,238,000. Swedbank AB acquired a new position in Globe Life in the fourth quarter valued at approximately $52,414,000. Proficio Capital Partners LLC boosted its position in Globe Life by 11,153.5% in the 4th quarter. Proficio Capital Partners LLC now owns 445,076 shares of the company’s stock worth $49,635,000 after purchasing an additional 441,121 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after purchasing an additional 326,307 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GL shares. Keefe, Bruyette & Woods boosted their target price 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 raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Five equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Price Performance

Shares of Globe Life stock opened at $132.07 on Wednesday. The stock has a market capitalization of $10.99 billion, a P/E ratio of 11.05 and a beta of 0.77. The business has a 50 day simple moving average of $124.49 and a two-hundred day simple moving average of $114.41. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $133.31. 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 (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 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%. As a group, analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.82%. Globe Life’s payout ratio 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 on Monday, January 6th. The stock was 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 of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,338 shares of company stock valued at $7,239,630. Corporate insiders own 1.51% of the company’s stock.

About Globe Life

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.