Davis R M Inc. Reduces Stock Position in Globe Life Inc. (NYSE:GL)

Davis R M Inc. reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 71.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,639 shares of the company's stock after selling 9,134 shares during the period. Davis R M Inc.'s holdings in Globe Life were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GL. Riverview Trust Co bought a new position in shares of Globe Life in the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC grew its position in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after acquiring an additional 557 shares during the last quarter. Family Firm Inc. bought a new stake in Globe Life during the 2nd quarter worth $54,000. Finally, Blue Trust Inc. grew its position in Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company's stock worth $64,000 after acquiring an additional 554 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Raymond James boosted their price objective on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Morgan Stanley upped their price target on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price target on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Five investment 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 data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Globe Life Stock Up 0.0 %

GL stock traded up $0.05 during trading on Tuesday, reaching $111.43. 387,966 shares of the stock were exchanged, compared to its average volume of 1,496,736. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm's 50 day moving average is $107.76 and its 200 day moving average is $95.93. The firm has a market cap of $9.35 billion, a P/E ratio of 9.43 and a beta of 0.81. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

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

Globe Life Dividend Announcement

The firm also recently announced 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 is presently 8.12%.

Globe Life Company 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.