Cerity Partners LLC Buys 25,539 Shares of Globe Life Inc. (NYSE:GL)

Cerity Partners LLC boosted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 283.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,540 shares of the company's stock after acquiring an additional 25,539 shares during the quarter. Cerity Partners LLC's holdings in Globe Life were worth $3,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GL. Raymond James Trust N.A. boosted its holdings in Globe Life by 51.2% during the third quarter. Raymond James Trust N.A. now owns 4,587 shares of the company's stock valued at $486,000 after purchasing an additional 1,554 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Globe Life by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company's stock worth $85,747,000 after buying an additional 56,673 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company's stock worth $106,835,000 after buying an additional 78,354 shares during the period. Nuance Investments LLC boosted its stake in Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock valued at $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Globe Life by 78.5% in the third quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company's stock valued at $30,768,000 after acquiring an additional 127,764 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Trading Down 0.4 %

NYSE:GL traded down $0.46 during mid-day trading on Friday, hitting $111.24. The company had a trading volume of 311,572 shares, compared to its average volume of 1,486,703. 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 Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market cap of $9.34 billion, a P/E ratio of 9.41 and a beta of 0.81. The business's fifty day moving average is $108.15 and its two-hundred day moving average is $96.51.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for 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%. Globe Life's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company posted $2.71 EPS. As a group, research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently declared 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. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is 8.12%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley lifted 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. Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Finally, 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. Five 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Globe Life 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.