Hillsdale Investment Management Inc. Purchases Shares of 7,350 Globe Life Inc. (NYSE:GL)

Hillsdale Investment Management Inc. purchased a new position in shares of Globe Life Inc. (NYSE:GL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,350 shares of the company’s stock, valued at approximately $820,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after acquiring an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Globe Life by 22.3% in 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 valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Globe Life by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock valued at $85,747,000 after purchasing an additional 56,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Globe Life by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 660,198 shares of the company’s stock worth $69,922,000 after purchasing an additional 4,230 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by corporate insiders.

Globe Life Stock Down 1.4 %

Shares of NYSE GL opened at $126.86 on Monday. The firm has a fifty day simple moving average of $122.53 and a two-hundred day simple moving average of $113.03. Globe Life Inc. has a 12 month low of $38.95 and a 12 month 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. The firm has a market capitalization of $10.64 billion, a PE ratio of 10.62 and a beta of 0.77.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts expect that Globe Life Inc. will post 13.87 earnings per share 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.85%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. Globe Life’s dividend payout ratio is presently 9.04%.

Wall Street Analysts Forecast Growth

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