First National Bank of Hutchinson Buys 538 Shares of Globe Life Inc. (NYSE:GL)

First National Bank of Hutchinson lifted its stake in Globe Life Inc. (NYSE:GL) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,909 shares of the company’s stock after purchasing an additional 538 shares during the quarter. Globe Life accounts for approximately 1.0% of First National Bank of Hutchinson’s holdings, making the stock its 21st biggest position. First National Bank of Hutchinson’s holdings in Globe Life were worth $1,663,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nuance Investments LLC raised its holdings in Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Globe Life during the 4th quarter valued at $61,238,000. Swedbank AB bought a new stake in shares of Globe Life in the 4th quarter worth $52,414,000. Proficio Capital Partners LLC raised 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 worth $49,635,000 after purchasing an additional 441,121 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GL. Wells Fargo & Company lifted their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their target price 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, BMO Capital Markets began coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Five 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’s stock. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This 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 this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. 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. Company insiders own 1.51% of the company’s stock.

Globe Life Price Performance

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

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, beating 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%. Sell-side analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company 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 $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.85%. Globe Life’s dividend payout ratio is 9.04%.

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.