Globe Life Inc. (NYSE:GL) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in Globe Life Inc. (NYSE:GL) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,777 shares of the company’s stock after purchasing an additional 1,495 shares during the quarter. CIBC Asset Management Inc’s holdings in Globe Life were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Riverview Trust Co acquired a new position in shares of Globe Life during the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. raised its stake in Globe Life by 88.4% during the second 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 holdings in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Globe Life during the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. increased its holdings in shares of Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GL shares. Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Trading Down 0.5 %

Shares of GL opened at $108.76 on Thursday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The stock has a 50-day moving average price of $107.39 and a 200 day moving average price of $95.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $9.13 billion, a P/E ratio of 9.20 and a beta of 0.81.

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

Globe Life Announces Dividend

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

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.