ING Groep NV Has $479,000 Stock Holdings in Globe Life Inc. (NYSE:GL)

ING Groep NV reduced its position in Globe Life Inc. (NYSE:GL - Free Report) by 56.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,527 shares of the company's stock after selling 5,859 shares during the period. ING Groep NV's holdings in Globe Life were worth $479,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company's stock worth $1,309,755,000 after buying an additional 425,993 shares during the last quarter. Boston Partners increased its stake in Globe Life by 6.4% in the 1st quarter. Boston Partners now owns 2,092,526 shares of the company's stock worth $243,200,000 after buying an additional 125,457 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after acquiring an additional 822,638 shares during the last quarter. Millennium Management LLC grew its holdings in Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock valued at $105,303,000 after buying an additional 817,760 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock valued at $88,420,000 after purchasing an additional 859,146 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GL. Keefe, Bruyette & Woods lifted their target price 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 shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. TD Cowen assumed coverage on Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Globe Life Stock Performance

Shares of NYSE:GL traded up $0.55 during trading hours on Monday, hitting $109.75. The stock had a trading volume of 509,147 shares, compared to its average volume of 1,524,242. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The stock's fifty day simple moving average is $106.97 and its 200 day simple moving average is $94.81. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 9.24 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last released 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 return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side 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 given 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 0.87%. Globe Life's payout ratio is 8.12%.

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.