Bank of Montreal Can Has $9.98 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Bank of Montreal Can raised its stake in Globe Life Inc. (NYSE:GL - Free Report) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,559 shares of the company's stock after acquiring an additional 14,865 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Globe Life worth $9,976,000 at the end of the most recent quarter.

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

Globe Life Price Performance

Shares of GL stock traded down $1.53 during mid-day trading on Monday, hitting $109.71. 153,108 shares of the stock traded hands, compared to its average volume of 1,480,909. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. The company's 50-day simple moving average is $108.15 and its 200-day simple moving average is $96.63. 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 (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 EPS. As a group, equities research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 dividend yield of 0.88%. The ex-dividend date is Monday, January 6th. Globe Life's payout ratio is 8.12%.

Analyst Ratings Changes

A number of research firms have commented on GL. Truist Financial increased 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. Keefe, Bruyette & Woods increased 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. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Finally, Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. Five investment 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, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $124.50.

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.