Handelsbanken Fonder AB Buys 7,300 Shares of Globe Life Inc. (NYSE:GL)

Handelsbanken Fonder AB grew its stake in shares of Globe Life Inc. (NYSE:GL) by 51.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,500 shares of the company’s stock after acquiring an additional 7,300 shares during the period. Handelsbanken Fonder AB’s holdings in Globe Life were worth $2,277,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Keener Financial Planning LLC bought a new position in Globe Life during the 1st quarter worth about $49,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC boosted its stake in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares in the last quarter. Family Firm Inc. purchased a new position in Globe Life during the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. lifted its holdings in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.51% of the stock is currently owned by insiders.

Globe Life Trading Up 2.9 %

NYSE GL opened at $107.20 on Thursday. The stock has a market cap of $9.65 billion, a P/E ratio of 10.24 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a fifty day simple moving average of $101.27 and a two-hundred day simple moving average of $91.07.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.61 EPS. On average, analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Globe Life’s dividend payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of analyst reports. TD Cowen began coverage on Globe Life in a report on Wednesday. They issued a “buy” rating and a $150.00 price target on the stock. Morgan Stanley boosted their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 price target (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Piper Sandler boosted their price objective on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.70.

About Globe Life

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.