Globe Life Inc. (NYSE:GL) Holdings Boosted by State Street Corp

State Street Corp lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,545,272 shares of the company's stock after acquiring an additional 115,432 shares during the quarter. State Street Corp owned about 4.22% of Globe Life worth $375,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company's stock valued at $160,949,000 after acquiring an additional 277,108 shares in the last quarter. Millennium Management LLC increased its position in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after acquiring an additional 817,760 shares during the last quarter. Nuance Investments LLC lifted its stake in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company's stock worth $120,629,000 after acquiring an additional 693,346 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock valued at $88,420,000 after purchasing an additional 859,146 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company's stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.51% of the company's stock.

Analyst Ratings Changes

GL has been the topic of several analyst reports. Piper Sandler upped their target price on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Raymond James increased their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday. Finally, TD Cowen started 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 analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $127.10.

Globe Life Stock Performance

Shares of GL traded down $0.61 during midday trading on Tuesday, hitting $103.65. 670,869 shares of the stock traded hands, compared to its average volume of 1,470,435. The business's 50 day moving average price is $108.09 and its two-hundred day moving average price is $97.58. The firm has a market capitalization of $8.70 billion, a PE ratio of 8.75 and a beta of 0.81. 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 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Globe Life's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 EPS. Equities research analysts predict that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. Globe Life's dividend payout ratio (DPR) is presently 8.12%.

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.