Globe Life Inc. (NYSE:GL) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of Globe Life Inc. (NYSE:GL) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,048 shares of the company’s stock after purchasing an additional 446 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Globe Life were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GL. Nuance Investments LLC increased its position in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after purchasing an additional 693,346 shares during the period. Raymond James Financial Inc. acquired a new position in Globe Life during the fourth quarter worth $61,238,000. Swedbank AB purchased a new position in Globe Life in the fourth quarter worth $52,414,000. Proficio Capital Partners LLC lifted its holdings in 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 acquiring an additional 441,121 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globe Life by 22.3% during the 3rd 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 purchasing an additional 277,108 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

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

Wall Street Analysts Forecast Growth

GL has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Stock Up 0.5 %

Shares of NYSE:GL opened at $127.54 on Thursday. The stock’s fifty day simple moving average is $121.96 and its 200-day simple moving average is $112.66. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $131.39. The company has a market capitalization of $10.69 billion, a P/E ratio of 10.67 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued 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 return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is currently 9.04%.

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.