Equity Investment Corp Decreases Holdings in Globe Life Inc. (NYSE:GL)

Equity Investment Corp decreased its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,031,585 shares of the company's stock after selling 4,804 shares during the quarter. Globe Life accounts for approximately 2.5% of Equity Investment Corp's investment portfolio, making the stock its 16th largest position. Equity Investment Corp owned 1.15% of Globe Life worth $109,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GL. UMB Bank n.a. grew its position in Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock worth $144,000 after acquiring an additional 97 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock valued at $373,000 after buying an additional 136 shares during the period. Farther Finance Advisors LLC raised its holdings in Globe Life by 4.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock valued at $382,000 after buying an additional 166 shares during the last quarter. TrueWealth Advisors LLC boosted its position in Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock worth $1,392,000 after buying an additional 170 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Globe Life by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company's stock worth $284,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

GL has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target 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. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Morgan Stanley increased their target price on shares of 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, Raymond James boosted 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. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Globe Life Stock Up 0.5 %

GL traded up $0.50 during midday trading on Monday, hitting $109.70. The company had a trading volume of 523,458 shares, compared to its average volume of 1,524,312. The stock's 50 day moving average price is $107.09 and its 200 day moving average price is $95.03. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 9.28 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business 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 firm's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 EPS. On average, research analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, January 6th. Globe Life's dividend payout ratio is 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.