Globe Life Inc. (NYSE:GL) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its position in Globe Life Inc. (NYSE:GL) by 51.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,587 shares of the company’s stock after acquiring an additional 1,554 shares during the period. Raymond James Trust N.A.’s holdings in Globe Life were worth $486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Globe Life by 7.7% in the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after buying an additional 136 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Globe Life by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after buying an additional 166 shares during the period. TrueWealth Advisors LLC raised its holdings in Globe Life by 1.3% in the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock valued at $1,392,000 after acquiring an additional 170 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Globe Life by 7.7% in the third quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock worth $284,000 after acquiring an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GL shares. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Truist Financial increased their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Stock Performance

Shares of GL stock opened at $111.43 on Wednesday. The stock’s 50-day moving average price is $107.76 and its 200 day moving average price is $95.93. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.35 billion, a PE ratio of 9.43 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $2.71 EPS. Globe Life’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is presently 8.12%.

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.