Globe Life Inc. (NYSE:GL) Holdings Raised by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in shares of Globe Life Inc. (NYSE:GL) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,682 shares of the company’s stock after purchasing an additional 191 shares during the quarter. Ballentine Partners LLC’s holdings in Globe Life were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GL. Riverview Trust Co bought a new stake in Globe Life in the third quarter worth about $32,000. Keener Financial Planning LLC bought a new stake in Globe Life in the first quarter worth about $49,000. Benjamin F. Edwards & Company Inc. raised its position in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC raised its position in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Globe Life in the second quarter worth about $54,000. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James boosted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Trading Up 0.3 %

NYSE:GL opened at $105.45 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock’s 50-day moving average is $105.52 and its two-hundred day moving average is $91.06. The stock has a market cap of $9.49 billion, a PE ratio of 10.07 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

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.