Stifel Financial Corp Purchases 6,935 Shares of Globe Life Inc. (NYSE:GL)

Stifel Financial Corp lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,930 shares of the company's stock after purchasing an additional 6,935 shares during the quarter. Stifel Financial Corp owned about 0.29% of Globe Life worth $26,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. lifted its stake in shares of 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 worth $88,420,000 after buying an additional 859,146 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 during the last quarter. Millennium Management LLC raised its stake in shares of Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after purchasing an additional 817,760 shares during the last quarter. Nuance Investments LLC raised 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 purchasing an additional 693,346 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock valued at $76,552,000 after purchasing an additional 552,634 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company's stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.51% of the company's stock.

Globe Life Stock Performance

Shares of GL stock traded down $0.50 during trading hours on Monday, reaching $104.26. 1,058,781 shares of the company traded hands, compared to its average volume of 1,473,651. The firm has a 50-day moving average price of $108.13 and a 200 day moving average price of $97.41. The company has a market cap of $8.75 billion, a P/E ratio of 8.86 and a beta of 0.81. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.71 earnings per share. As a group, sell-side analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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 paid a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Globe Life's payout ratio is presently 8.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GL. 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 research note on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target on the stock. Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Finally, Piper Sandler increased their target price on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently 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.