GSA Capital Partners LLP Sells 4,821 Shares of Globe Life Inc. (NYSE:GL)

GSA Capital Partners LLP lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 56.2% during the 3rd quarter, Holdings Channel reports. The fund owned 3,753 shares of the company’s stock after selling 4,821 shares during the period. GSA Capital Partners LLP’s holdings in Globe Life were worth $397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GL. Edgestream Partners L.P. purchased a new position in shares of Globe Life in the 1st quarter worth approximately $233,000. UniSuper Management Pty Ltd increased its position in shares of Globe Life by 578.4% during the first quarter. UniSuper Management Pty Ltd now owns 8,432 shares of the company’s stock worth $981,000 after purchasing an additional 7,189 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Globe Life by 308.5% during the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock valued at $1,377,000 after purchasing an additional 8,932 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Globe Life in the 1st quarter worth $72,000. Finally, Lazard Asset Management LLC grew its stake in Globe Life by 41.5% during the 1st quarter. Lazard Asset Management LLC now owns 352,221 shares of the company’s stock worth $40,987,000 after buying an additional 103,226 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Price Performance

NYSE:GL opened at $109.05 on Friday. The firm’s fifty day moving average is $107.52 and its two-hundred day moving average is $95.44. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 9.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. Research analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GL. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial lifted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, TD Cowen initiated coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Five 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.