Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 63.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,344 shares of the company's stock after selling 387,373 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of Globe Life worth $23,337,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 purchasing an additional 281 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company's stock valued at $51,000 after buying an additional 557 shares during the last quarter. Family Firm Inc. bought a new position in shares of Globe Life in the second quarter valued at $54,000. Finally, Blue Trust Inc. increased its holdings in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company's stock worth $64,000 after buying an additional 554 shares during the last quarter. 81.61% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on GL shares. Truist Financial boosted their price objective 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. Morgan Stanley raised their price objective 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. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. TD Cowen assumed coverage on Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target for the company. Finally, Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a report on Tuesday, October 15th. Five equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.50.
View Our Latest Stock Report on GL
Globe Life Stock Performance
Shares of Globe Life stock traded up $0.29 during trading on Thursday, reaching $109.05. The company's stock had a trading volume of 296,734 shares, compared to its average volume of 1,509,909. The business's 50-day moving average price is $107.52 and its 200-day moving average price is $95.44. The firm has a market cap of $9.15 billion, a PE ratio of 9.23 and a beta of 0.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. 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 announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The company 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 previous year, the business posted $2.71 earnings per share. Equities analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.
Globe Life Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is presently 8.12%.
Globe Life Company Profile
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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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