Citigroup Inc. Lowers Stock Holdings in Globe Life Inc. (NYSE:GL)

Citigroup Inc. reduced its holdings in Globe Life Inc. (NYSE:GL) by 33.5% during the 3rd quarter, Holdings Channel reports. The firm owned 55,990 shares of the company’s stock after selling 28,173 shares during the quarter. Citigroup Inc.’s holdings in Globe Life were worth $5,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GL. Riverview Trust Co acquired a new position in shares of Globe Life during the 3rd quarter worth about $32,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC lifted its position in shares of Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after acquiring an additional 557 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Globe Life in the second quarter worth approximately $54,000. Finally, Blue Trust Inc. increased its position in shares of 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 purchasing an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GL. Morgan Stanley raised their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price objective 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. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Down 0.4 %

GL stock opened at $111.24 on Monday. The firm has a market cap of $9.34 billion, a PE ratio of 9.41 and a beta of 0.81. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. 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 firm’s 50 day moving average price is $108.15 and its 200-day moving average price is $96.56.

Globe Life (NYSE:GL) last issued 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 firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $2.71 EPS. Globe Life’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

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