Citigroup Inc. lessened its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 33.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,990 shares of the company's stock after selling 28,173 shares during the quarter. Citigroup Inc. owned 0.07% of Globe Life worth $5,930,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Trust N.A. increased its holdings in Globe Life by 51.2% during the 3rd quarter. Raymond James Trust N.A. now owns 4,587 shares of the company's stock worth $486,000 after purchasing an additional 1,554 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Globe Life by 7.5% in the third 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 during the last quarter. Pzena Investment Management LLC raised its holdings in Globe Life by 8.4% in the third quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company's stock valued at $106,835,000 after acquiring an additional 78,354 shares in the last quarter. Nuance Investments LLC boosted its stake in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock valued at $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in Globe Life by 78.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company's stock worth $30,768,000 after acquiring an additional 127,764 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on GL shares. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Truist Financial boosted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.
View Our Latest Report on GL
Globe Life Trading Down 1.1 %
Shares of Globe Life stock traded down $1.20 on Monday, reaching $110.04. 596,072 shares of the company were exchanged, compared to its average volume of 1,482,922. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. 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 capitalization of $9.24 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. The stock has a fifty day moving average price of $108.15 and a 200-day moving average price of $96.63.
Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The business'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 EPS for the current year.
Globe Life Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, January 6th. Globe Life's dividend payout ratio is 8.12%.
Globe Life Company Profile
(
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.
See Also
Before you consider Globe Life, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globe Life wasn't on the list.
While Globe Life currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
