Mitchell Capital Management Co. Boosts Holdings in Globe Life Inc. (NYSE:GL)

Mitchell Capital Management Co. lifted its position in shares of Globe Life Inc. (NYSE:GL) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 88,666 shares of the company’s stock after purchasing an additional 377 shares during the quarter. Globe Life comprises approximately 1.7% of Mitchell Capital Management Co.’s holdings, making the stock its 12th largest holding. Mitchell Capital Management Co. owned approximately 0.11% of Globe Life worth $9,888,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT purchased a new stake in shares of Globe Life during the 4th quarter worth about $28,000. True Wealth Design LLC purchased a new stake in shares of Globe Life during the 3rd quarter worth about $59,000. Private Trust Co. NA lifted its position in Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in Globe Life during the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley boosted 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. BMO Capital Markets assumed 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, Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Stock Performance

Shares of GL opened at $127.69 on Friday. The business’s 50 day moving average is $118.29 and its two-hundred day moving average is $110.35. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $129.05. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 10.68 and a beta of 0.81. 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 posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (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%. Analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal 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 given a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is currently 9.04%.

Insider Activity at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the company’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 completion of the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s 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 of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,678 shares of company stock valued at $8,799,822. Corporate insiders own 1.51% of the company’s stock.

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.