Charles Schwab Investment Management Inc. raised its stake in Globe Life Inc. (NYSE:GL - Free Report) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,623 shares of the company's stock after purchasing an additional 56,673 shares during the period. Charles Schwab Investment Management Inc. owned about 0.96% of Globe Life worth $85,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in Globe Life by 7.7% in the third quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock valued at $144,000 after acquiring an additional 97 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after buying an additional 136 shares during the last quarter. Farther Finance Advisors LLC increased its position in Globe Life by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock worth $382,000 after buying an additional 166 shares during the period. TrueWealth Advisors LLC lifted its stake in Globe Life by 1.3% in the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock valued at $1,392,000 after buying an additional 170 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of Globe Life by 7.7% in the third quarter. Ballentine Partners LLC now owns 2,682 shares of the company's stock valued at $284,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Price Performance
Globe Life stock traded up $0.27 during mid-day trading on Thursday, hitting $111.70. 364,323 shares of the company were exchanged, compared to its average volume of 1,491,812. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $9.38 billion, a P/E ratio of 9.45 and a beta of 0.81. The business's 50 day simple moving average is $107.96 and its two-hundred day simple moving average is $96.22. 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 announced its 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. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 0.86%. Globe Life's dividend payout ratio (DPR) is currently 8.12%.
Wall Street Analyst Weigh In
Several analysts recently commented on GL shares. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.
Check Out Our Latest Stock Analysis on Globe Life
Globe Life 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.
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