Centric Wealth Management cut its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 73.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after selling 40,456 shares during the quarter. Centric Wealth Management's holdings in Globe Life were worth $1,665,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Globe Life by 7.7% in the 3rd 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 in the last quarter. Thrivent Financial for Lutherans raised its stake in Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock valued at $373,000 after buying an additional 136 shares in the last quarter. Fiduciary Trust Co lifted its holdings in Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock worth $670,000 after buying an additional 144 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock worth $382,000 after acquiring an additional 166 shares in the last quarter. Finally, TrueWealth Advisors LLC increased its holdings in shares of Globe Life by 1.3% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Stock Performance
GL stock traded down $0.46 during trading on Friday, hitting $111.24. The company had a trading volume of 311,569 shares, compared to its average volume of 1,486,703. The firm has a 50-day moving average price of $108.05 and a 200-day moving average price of $96.33. 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 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 1-year low of $38.95 and a 1-year high of $132.00.
Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts expect that Globe Life Inc. will post 12.31 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, January 31st. Stockholders of record on Wednesday, January 8th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is presently 8.12%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on GL shares. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Raymond James upped their target price 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 assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target on the stock. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their target price on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $124.50.
Check Out Our Latest Stock Report on Globe Life
About Globe Life
(
Free Report)
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.
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